Financial Results : Al Abdullatif widens Q1 2023 net loss to SAR 20 mln

Al Abdullatif widens Q1 2023 net loss to SAR 20 mln

23/05/2023 Argaam Exclusive

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Al Abdullatif Industrial Investment Co. deepened Q1 2023 net loss to SAR 20 million, from SAR 12.1 million in the year-earlier period, due to lower sales and higher cost of sales. In addition, the financing cost rose and investment income declined.



Current Quarter Comparison (M)

Compared With The
Item Q1 2022 Q1 2023 Change‬
Revenues 181.65 140.28 (22.8 %)
Gross Income 2.90 (4.84) (267.0 %)
Operating Income (9.22) (12.92) (40.2 %)
Net Income (12.11) (20.00) (65.2 %)
Average Shares 81.25 81.25 -
EPS (Riyals) (0.15) (0.25) (65.2 %)

On a sequential basis, net loss shrank from SAR 26.74 million in Q4 2022.

 

Accumulated losses reached SAR 47.28 million at the end of Q1 2023, or 5.82% of capital. 

 

Total shareholders’ equity, no minority interest, stood at SAR 1.26 billion by the end of Q1 2023 compared to SAR 1.08 billion a year ago.

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