Tabuk Agricultural Development Co. (TADCO) trimmed net loss after Zakat and tax by 87.5% year-on-year (YoY) to SAR 17.9 million for the first nine months of 2020, driven by higher sales revenue and decreased distribution and selling expenses.
| Item | 9m 2019 | 9m 2020 | Change |
|---|---|---|---|
| Revenues | 98.72 | 119.37 | 20.9 % |
| Gross Income | (27.08) | 22.84 | 184.3 % |
| Operating Income | (67.03) | (13.60) | 79.7 % |
| Net Income | (142.22) | (18.20) | 87.2 % |
| Average Shares | 33.73 | 33.73 | - |
| EPS (Riyals) | (4.22) | (0.54) | 87.2 % |
| Item | Q3 2019 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 50.67 | 47.39 | (6.5 %) |
| Gross Income | (1.78) | 9.31 | 623.6 % |
| Operating Income | (17.21) | (4.83) | 71.9 % |
| Net Income | (55.67) | (6.96) | 87.5 % |
| Average Shares | 33.73 | 33.73 | - |
| EPS (Riyals) | (1.65) | (0.21) | 87.5 % |
| Item | Q2 2020 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 37.31 | 47.39 | 27.0 % |
| Gross Income | 7.05 | 9.31 | 32.1 % |
| Operating Income | (4.71) | (4.83) | (2.5 %) |
| Net Income | (5.53) | (6.96) | (25.8 %) |
| Average Shares | 33.73 | 33.73 | - |
| EPS (Riyals) | (0.16) | (0.21) | (25.8 %) |
The third-quarter net loss after Zakat and tax shrank 88.6% YoY to SAR 6.2 million, backed by lower cost of sales.
On a sequential basis, Q3 2020 net loss widened 1.2%.
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