Fitaihi Holding Group incurred a net loss after Zakat and tax of SAR 2.4 million for Q1 2020, against a net profit of SAR 5.6 million a year earlier, due to a 34.4% YoY drop in sales and a 73.9% decline in the company’s profit share from associates.
| Item | Q1 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 21.14 | 18.02 | (14.7 %) |
| Gross Income | 7.79 | 8.50 | 9.2 % |
| Operating Income | (1.12) | (3.24) | (187.8 %) |
| Net Income | 5.56 | (2.42) | (143.5 %) |
| Average Shares | 275.00 | 275.00 | - |
| EPS (Riyals) | 0.02 | (0.01) | (143.5 %) |
| Item | Q4 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 20.55 | 18.02 | (12.3 %) |
| Gross Income | 8.04 | 8.50 | 5.7 % |
| Operating Income | (0.43) | (3.24) | (655.8 %) |
| Net Income | (24.73) | (2.42) | 90.2 % |
| Average Shares | 275.00 | 275.00 | - |
| EPS (Riyals) | (0.09) | (0.01) | 90.2 % |
When compared to Q4 2019, the jewelry retailer trimmed net losses by 90.2% from SAR 24.7 million. Fitaihi recoded zero impairment losses from an associate, compared to impairment of SAR 24.8 million in Q1 2019.
In addition, the company reported a 37.6% rise in the profit share from associates.
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