Al-Baha swings to SAR 1.6 mln net loss in H1 2021

19/08/2021 Argaam Exclusive

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Al-Baha Investment and Development Co. reported a net loss after Zakat and tax of SAR 1.6 million for H1 2021, versus a net profit of SAR 830,704 in the prior-year period, driven by higher general and non-recurring expenses.

Financials (M)

Item	6m 2020	6m 2021	Change‬
Revenues	5.65	5.35	(5.4 %)
Gross Income	3.53	2.90	(17.9 %)
Operating Income	2.06	(1.49)	(172.1 %)
Net Income	0.58	(1.62)	(378.9 %)
Average Shares	2,964.00	2,964.00	-
EPS (Halala)	0.02	(0.05)	(378.9 %)

The company reported a net loss of SAR 635,626 for Q2 2021, versus a net profit of SAR 449,905 in the year-earlier period, due to an expected credit loss of SAR 1.6 million on the repercussions of COVID-19 pandemic.

On a sequential basis, losses shrank 36.09%.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2020	Q2 2021	Change‬
Revenues	2.89	2.81	(3.0 %)
Gross Income	1.86	1.58	(15.2 %)
Operating Income	1.12	(0.93)	(183.2 %)
Net Income	0.31	(0.66)	(315.3 %)
Average Shares	2,964.00	2,964.00	-
EPS (Halala)	0.01	(0.02)	(315.3 %)

Item	Q1 2021	Q2 2021	Change‬
Revenues	2.54	2.81	10.4 %
Gross Income	1.32	1.58	19.5 %
Operating Income	(0.55)	(0.93)	(68.2 %)
Net Income	(0.95)	(0.66)	30.4 %
Average Shares	2,964.00	2,964.00	-
EPS (Halala)	(0.03)	(0.02)	30.4 %

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