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.
| 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%.
| 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 % |
| Item | Q2 2020 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 389.53 | 411.24 | 5.6 % |
| Gross Income | 115.82 | 122.14 | 5.5 % |
| Operating Income | 7.72 | 21.93 | 184.0 % |
| Net Income | (3.24) | (29.74) | (819.3 %) |
| Average Shares | 126.39 | 126.39 | - |
| EPS (Riyals) | (0.03) | (0.24) | (819.3 %) |
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