Batic Investments and Logistics Co.’s net profit after Zakat and tax plunged 51.3% year-on-year (YoY) to SAR 6.89 million for the fiscal year 2019, as compared to SAR 14.18 million a year earlier.
| Item | 2018 | 2019 | Change |
|---|---|---|---|
| Revenues | 507.63 | 463.95 | (8.6 %) |
| Gross Income | 77.56 | 60.12 | (22.5 %) |
| Operating Income | 27.09 | 16.25 | (40.0 %) |
| Net Income | 14.19 | 6.90 | (51.4 %) |
| Average Shares | 584.96 | 584.96 | - |
| EPS (Riyals) | 0.02 | 0.01 | (51.4 %) |
The decline was attributed to decrease in revenue by 8.6% and an increase in finance costs due to a loan to acquire a commercial building in Riyadh, BATIC said in a bourse filing.
The company also cited an increase in capital losses due to the sale of old fleet units in one of the subsidiary firms.
In Q4 2019, net profit declined 76% to SAR 1.1 million from SAR 4.57 million a year earlier.
| Item | Q4 2018 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 124.48 | 116.36 | (6.5 %) |
| Gross Income | 19.18 | 12.44 | (35.2 %) |
| Operating Income | 7.14 | 1.35 | (81.1 %) |
| Net Income | 4.57 | 1.10 | (75.9 %) |
| Average Shares | 584.96 | 584.96 | - |
| EPS (Riyals) | 0.01 | 0.00 | (75.9 %) |
| Item | Q3 2019 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 115.72 | 116.36 | 0.5 % |
| Gross Income | 14.65 | 12.44 | (15.1 %) |
| Operating Income | 5.18 | 1.35 | (74.0 %) |
| Net Income | 2.07 | 1.10 | (46.7 %) |
| Average Shares | 584.96 | 584.96 | - |
| EPS (Riyals) | 0.00 | 0.00 | (46.7 %) |
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