Saudi Arabia Refineries Co. (SARCO) narrowed net losses by 13% year-on-year (YoY) to SAR 1.1 million for Q1 2020, compared to SAR 1.3 million in the same period last year.
| Item | Q1 2019 | Q1 2020 | Change |
|---|---|---|---|
| Operating Income | (0.63) | (0.89) | (41.1 %) |
| Net Income | (1.27) | (1.10) | 13.1 % |
| Average Shares | 15.00 | 15.00 | - |
| EPS (Riyals) | (0.08) | (0.07) | 13.1 % |
| Item | Q4 2019 | Q1 2020 | Change |
|---|---|---|---|
| Operating Income | (1.39) | (0.89) | 35.6 % |
| Net Income | 9.04 | (1.10) | (112.2 %) |
| Average Shares | 15.00 | 15.00 | - |
| EPS (Riyals) | 0.60 | (0.07) | (112.2 %) |
The company attributed it to the dividends due for the second half of 2019 from Southern Region Cement Co. worth SAR 271,499.
When compared to previous quarter, SARCO turned to losses on the lack of dividends from the Saudi Industrial Investment Group Co. worth SAR 11.39 million.
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