Al Abdullatif swings to SAR 32.9 mln loss in 9M 2020

04/11/2020 Argaam Exclusive

View other reports

Al Abdullatif Industrial Investment Co. posted a net loss after Zakat and tax of SAR 32.9 million for the first nine months of 2020, against a net profit after Zakat and tax of SAR 9.7 million in the same period last year.

The company attributed the loss to a sharp decrease in sales amid lower demand for products, as well as the higher cost of sales and increased Zakat provision.

Financials (M)

Item	9m 2019	9m 2020	Change‬
Revenues	475.59	317.77	(33.2 %)
Gross Income	47.40	(0.04)	(100.1 %)
Operating Income	20.29	(23.29)	(214.8 %)
Net Income	9.71	(32.88)	(438.8 %)
Average Shares	81.25	81.25	-
EPS (Riyals)	0.12	(0.40)	(438.8 %)

The company reported a net loss after Zakat and tax of SAR 12.12 million in Q3 2020, compared to a net profit of SAR 2.20 million a year earlier, due to the decline in sales on weak demand for products.

On a quarterly basis, Q3 2020 losses narrowed on higher sales and a relative decrease in the cost of goods sold.

Total shareholders’ equity, excluding minority interest, declined by 4.9% to SAR 1.11 billion by the end of September, from SAR 1.17 billion a year earlier.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2019	Q3 2020	Change‬
Revenues	133.85	102.56	(23.4 %)
Gross Income	12.18	(2.09)	(117.2 %)
Operating Income	4.35	(10.22)	(334.9 %)
Net Income	2.20	(12.12)	(650.8 %)
Average Shares	81.25	81.25	-
EPS (Riyals)	0.03	(0.15)	(650.8 %)

Item	Q2 2020	Q3 2020	Change‬
Revenues	81.86	102.56	25.3 %
Gross Income	(3.53)	(2.09)	40.8 %
Operating Income	(10.98)	(10.22)	6.9 %
Net Income	(13.03)	(12.12)	6.9 %
Average Shares	81.25	81.25	-
EPS (Riyals)	(0.16)	(0.15)	6.9 %

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×