Wafrah for Industry and Development Co. narrowed net loss after Zakat and tax to SAR 12.4 million for 2020, from SAR 25.4 million a year earlier.
The company reduced net losses due to a decrease in the cost of sales, an increase of 1.16% year-on-year (YoY) sales, and a decline in the selling, general, administrative and marketing expenses.
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Revenues | 82.82 | 83.78 | 1.2 % |
| Gross Income | 16.76 | 19.41 | 15.8 % |
| Operating Income | (10.48) | (9.85) | 6.0 % |
| Net Income | (25.37) | (12.38) | 51.2 % |
| Average Shares | 19.70 | 19.70 | - |
| EPS (Riyals) | (1.29) | (0.63) | 51.2 % |
In Q4 2020, the company cut net losses to SAR 10.3 million, from SAR 24.39 million in year-earlier period.
Shareholders’ equity, excluding minority interest, dropped 17.64% to SAR 62.34 million in 2020, from SAR 75.70 million a year earlier.
The company's accumulated losses reached SAR 14.24 million, representing 18.46% of the paid-in capital amounting SAR 17.17 million.
| Item | Q4 2019 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 11.27 | 21.63 | 92.0 % |
| Gross Income | (2.56) | 1.62 | 163.1 % |
| Operating Income | (10.09) | (7.60) | 24.7 % |
| Net Income | (24.39) | (10.30) | 57.8 % |
| Average Shares | 19.70 | 19.70 | - |
| EPS (Riyals) | (1.24) | (0.52) | 57.8 % |
| Item | Q3 2020 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 22.96 | 21.63 | (5.8 %) |
| Gross Income | 4.26 | 1.62 | (62.1 %) |
| Operating Income | (2.94) | (7.60) | (158.2 %) |
| Net Income | (2.92) | (10.30) | (252.1 %) |
| Average Shares | 19.70 | 19.70 | - |
| EPS (Riyals) | (0.15) | (0.52) | (252.1 %) |
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