Financial Results : Aseer narrows losses to SAR 2.2 mln in H1 2021

Aseer narrows losses to SAR 2.2 mln in H1 2021

15/08/2021 Argaam Exclusive

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Aseer Trading, Tourism and Manufacturing Co. narrowed net loss after Zakat and tax to SAR 2.2 million in H1 2021, from SAR 3.1 million in the prior-year period.

 

The company attributed the decline in losses to higher sales, decrease in selling and distribution expenses, lower general and administration expenses, recording other operating income verses other operating expenses in same period last year.

 

In addition, Aseer reported foreign currency exchange gain compared to losses in same period last year, increase in other income and decrease in finance expenses.

 



Financials (M)

Item 6m 2020 6m 2021 Change‬
Revenues 795.74 829.60 4.3 %
Gross Income 236.99 240.08 1.3 %
Operating Income 20.64 27.35 32.5 %
Net Income (3.07) (2.17) 29.2 %
Average Shares 126.39 126.39 -
EPS (Riyals) (0.02) (0.02) 29.2 %

The company reported a net loss after Zakat and tax of SAR 800,000 for Q2 2021, compared to SAR 3.2 million in the same quarter last year.

 

On a sequential basis, the company narrowed its losses in Q2 2021.



Current Quarter Comparison (M)

Compared With The
Item Q2 2020 Q2 2021 Change‬
Revenues 389.53 403.40 3.6 %
Gross Income 115.82 114.47 (1.2 %)
Operating Income 7.72 12.43 61.0 %
Net Income (3.24) (0.79) 75.7 %
Average Shares 126.39 126.39 -
EPS (Riyals) (0.03) (0.01) 75.7 %

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