Al Gassim Investment Holding Co. (GACO) turned to a net loss after Zakat and tax of SAR 317,300 for the first half of 2021 from a net profit of SAR 1.2 million in the year-earlier period.
The company attributed the earnings to higher administrative expenses, and the value of provisions made.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Revenues | 5.75 | 5.63 | (1.9 %) |
| Gross Income | 4.94 | 4.74 | (4.0 %) |
| Operating Income | 2.27 | (0.44) | (119.5 %) |
| Net Income | 1.25 | (0.32) | (125.4 %) |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 0.04 | (0.01) | (125.4 %) |
In Q2 2021, the company turned to a net loss after Zakat and tax of SAR 292,892 from a net profit of SAR 775,845 in the same period a year earlier, on higher administrative expenses.
On a quarterly basis, GACO widened its losses in Q2 2021 from SAR 24,445.
| Item | Q2 2020 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 2.87 | 2.82 | (1.9 %) |
| Gross Income | 2.46 | 2.38 | (3.2 %) |
| Operating Income | 1.40 | (0.19) | (113.6 %) |
| Net Income | 0.54 | (0.29) | (154.8 %) |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 0.02 | (0.01) | (154.8 %) |
| Item | Q1 2021 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 2.82 | 2.82 | 0.1 % |
| Gross Income | 2.36 | 2.38 | 0.7 % |
| Operating Income | (0.25) | (0.19) | 24.3 % |
| Net Income | (0.02) | (0.29) | (1,120.8 %) |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 0.00 | (0.01) | (1,120.8 %) |
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