Saudi Industrial Development Co. (SIDC) trimmed net loss after Zakat and tax by 83.2% year-on-year (YoY) to SAR 500,000 for the first nine months of 2020, driven by narrowing operating losses on lower production costs and other operating expenses.
| Item | 9m 2019 | 9m 2020 | Change |
|---|---|---|---|
| Revenues | 149.94 | 121.55 | (18.9 %) |
| Gross Income | 27.14 | 27.17 | 0.1 % |
| Operating Income | (8.52) | (3.52) | 58.7 % |
| Net Income | (2.97) | (2.71) | 8.8 % |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | (0.07) | (0.07) | 8.8 % |
| Item | Q3 2019 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 45.95 | 39.67 | (13.7 %) |
| Gross Income | 8.83 | 8.24 | (6.7 %) |
| Operating Income | (2.27) | (2.21) | 2.6 % |
| Net Income | (4.31) | (1.36) | 68.5 % |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | (0.11) | (0.03) | 68.5 % |
| Item | Q2 2020 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 41.58 | 39.67 | (4.6 %) |
| Gross Income | 11.10 | 8.24 | (25.8 %) |
| Operating Income | 3.00 | (2.21) | (173.7 %) |
| Net Income | 4.34 | (1.36) | (131.3 %) |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | 0.11 | (0.03) | (131.3 %) |
The third-quarter net profit after Zakat and tax stood at SAR 5.1 million versus net loss of SAR 4.3 million in the year-earlier period, due to non-operating revenues.
On a sequential basis, net profit increased by 18.6%.
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