Wafrah for Industry and Development Co. narrowed net loss after Zakat and tax by 11.7% to SAR 10.9 million for 2021, compared to SAR 12.4 million a year earlier.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 83.78 | 64.97 | (22.5 %) |
| Gross Income | 19.41 | 11.49 | (40.8 %) |
| Operating Income | (9.85) | (11.88) | (20.6 %) |
| Net Income | (12.38) | (10.93) | 11.7 % |
| Average Shares | 19.70 | 19.70 | - |
| EPS (Riyals) | (0.63) | (0.55) | 11.7 % |
This was driven by lower selling and marketing expenses, as well as a decrease in credit loss provisions.
The company’s Q4 net loss narrowed to SAR 6.4 million from SAR 10.3 million in Q 4 2020.
Sequentially, losses widened from SAR 1.73 million in Q3 2021.
| Item | Q4 2020 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 21.63 | 12.28 | (43.2 %) |
| Gross Income | 1.62 | 0.81 | (49.8 %) |
| Operating Income | (7.60) | (5.72) | 24.7 % |
| Net Income | (10.30) | (6.41) | 37.7 % |
| Average Shares | 19.70 | 19.70 | - |
| EPS (Riyals) | (0.52) | (0.33) | 37.7 % |
| Item | Q3 2021 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 15.97 | 12.28 | (23.1 %) |
| Gross Income | 1.34 | 0.81 | (39.3 %) |
| Operating Income | (3.04) | (5.72) | (87.9 %) |
| Net Income | (1.73) | (6.41) | (270.2 %) |
| Average Shares | 19.70 | 19.70 | - |
| EPS (Riyals) | (0.09) | (0.33) | (270.2 %) |
Total shareholders’ equity, excluding minority interest, dropped 15.2% year-on-year (YoY) to SAR 52.9 million for 2021.
Accumulated losses reached SAR 23.7 million, representing 30.8% of company’s capital.
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