Financial Results : Al-Baha turns to SAR 952,000 loss in Q1 2021

Al-Baha turns to SAR 952,000 loss in Q1 2021

23/05/2021 Argaam Exclusive

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Al-Baha Investment and Development Co. reported net loss after Zakat and tax of SAR 952,000 for Q1 2021, versus net profit of SAR 381,000 for Q1 2020, driven by the repercussions of COVID-19 outbreak on real estate and leasing portfolio.

 

The company also cited higher general and one-time administration expenses related to the previously announced capital increase.

 

On a sequential basis, net loss narrowed by 96.77%.



Current Quarter Comparison (M)

Compared With The
Item Q1 2020 Q1 2021 Change‬
Revenues 2.76 2.54 (7.8 %)
Gross Income 1.67 1.32 (20.9 %)
Operating Income 0.94 (0.55) (159.0 %)
Net Income 0.27 (0.95) (451.3 %)
Average Shares 2,964.00 2,964.00 -
EPS (Halala) 0.01 (0.03) (451.3 %)

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