Abdullah A. M. Al-Khodari Sons Co. widened its net loss after Zakat and tax to SAR 1.59 billion in the fiscal year 2018, compared to SAR 56.4 million a year ago.
| Item | 2017 | 2018 | Change |
|---|---|---|---|
| Revenues | 519.47 | 164.69 | (68.3 %) |
| Gross Income | (7.24) | (1363.35) | (18,728.2 %) |
| Operating Income | (45.66) | (1394.40) | (2,953.8 %) |
| Net Income | (56.41) | (1593.05) | (2,723.9 %) |
| Average Shares | 55.78 | 55.78 | - |
| EPS (Riyals) | (1.01) | (28.56) | (2,723.9 %) |
The company attributed the increase in loss to 68.3% decline in revenue, mainly due to no contribution from the construction sector during the year.
The firm also cited higher gross loss, lower other income by 32%, increased finance charges by 20.7%, and additional impairment loss for trade receivables of SAR 135.3 million, for the rise in loss.
This was partially offset by lower selling and marketing costs by 32.7%, general and administrative expenses by 17.4%, and Zakat expenses by 77.8%.
Accumulated losses came in at SAR 1.8 billion, or 328.58% of the company’s total capital, in FY2018.
| Item | Q4 2017 | Q4 2018 | Change |
|---|---|---|---|
| Revenues | 86.29 | - | - |
| Gross Income | 20.92 | (1326.81) | (6441.4 %) |
| Operating Income | 11.49 | (1335.50) | (11728.2 %) |
| Net Income | (19.22) | (1569.00) | (8,062.5 %) |
| Average Shares | 55.78 | 55.78 | - |
| EPS (Riyals) | (0.34) | (28.13) | (8,062.5 %) |
| Item | Q3 2018 | Q4 2018 | Change |
|---|---|---|---|
| Revenues | 62.17 | - | - |
| Gross Income | (14.99) | (1326.81) | (8,748.9 %) |
| Operating Income | (21.51) | (1335.50) | (6,109.3 %) |
| Net Income | (25.96) | (1569.00) | (5,943.2 %) |
| Average Shares | 55.78 | 55.78 | - |
| EPS (Riyals) | (0.47) | (28.13) | (5,943.2 %) |
The company’s Q4 2018 net loss after Zakat and tax widened to SAR 1.56 billion compared to SAR 19.2 million in Q4 2017.
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