Fitaihi Holding Group reported net loss after Zakat and tax of SAR 19.3 million for the first half of 2020, versus net profit of SAR 13 million in a prior-year period, driven by lower sales revenue, due to the lockdown measures, losses from associates, and lower profit margins.
| Item | 6m 2019 | 6m 2020 | Change |
|---|---|---|---|
| Revenues | 39.11 | 22.17 | (43.3 %) |
| Gross Income | 15.64 | 6.28 | (59.9 %) |
| Operating Income | (3.00) | (8.32) | (177.6 %) |
| Net Income | 13.01 | (19.28) | (248.2 %) |
| Average Shares | 275.00 | 275.00 | - |
| EPS (Riyals) | 0.05 | (0.07) | (248.2 %) |
| Item | Q2 2019 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 17.97 | 9.38 | (47.8 %) |
| Gross Income | 7.85 | 0.86 | (89.1 %) |
| Operating Income | (1.87) | (5.71) | (204.7 %) |
| Net Income | 7.45 | (16.87) | (326.3 %) |
| Average Shares | 275.00 | 275.00 | - |
| EPS (Riyals) | 0.03 | (0.06) | (326.3 %) |
| Item | Q1 2020 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 18.02 | 9.38 | (47.9 %) |
| Gross Income | 8.50 | 0.86 | (89.9 %) |
| Operating Income | (3.24) | (5.71) | (76.5 %) |
| Net Income | (2.42) | (16.87) | (598.5 %) |
| Average Shares | 275.00 | 275.00 | - |
| EPS (Riyals) | (0.01) | (0.06) | (598.5 %) |
The company reported net loss after Zakat and tax of SAR 16.9 million for the second quarter, versus net profit of SAR 7.4 million in a year earlier period, due to lower sales, lower profit margins, and decreased dividend from investments.
On a quarter-on-quarter basis, losses widened by more than six-fold.
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