Financial Results : Aseer widens net loss to SAR 8.5 mln loss in 9M 2020

Aseer widens net loss to SAR 8.5 mln loss in 9M 2020

10/11/2020 Argaam Exclusive

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Aseer Trading, Tourism and Manufacturing Co.’s net loss after Zakat and tax widened to SAR 8.5 million in the first nine months of 2020, compared to a loss of SAR 8.2 in the same period last year, due to a decrease in gross profit from sales, along with higher general and administration expenses, and other operation expenses. The firm also recorded impairment in properties, plant and equipment value.



Financials (M)

Item 9m 2019 9m 2020 Change‬
Revenues 1,370.86 1,206.99 (12.0 %)
Gross Income 386.32 359.13 (7.0 %)
Operating Income 63.52 42.57 (33.0 %)
Net Income (8.25) (32.81) (297.9 %)
Average Shares 126.39 126.39 -
EPS (Riyals) (0.07) (0.26) (297.9 %)

The company’s net loss after Zakat and tax narrowed to SAR 5.4 million in Q3 2020, versus a loss of SAR 32.1 million in the year-earlier period, due to increase in gross profit and operating income resulting mainly from decrease in loss from investments.

 

Compared to the previous quarter, Q3 2020 loss widened 68.8%.



Current Quarter Comparison (M)

Compared With The
Item Q3 2019 Q3 2020 Change‬
Revenues 484.43 411.24 (15.1 %)
Gross Income 137.81 122.14 (11.4 %)
Operating Income 26.28 21.93 (16.6 %)
Net Income (32.13) (29.74) 7.5 %
Average Shares 126.39 126.39 -
EPS (Riyals) (0.25) (0.24) 7.5 %

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