Al Kathiri Records Losses of SR3.4 mln During Q2

Al Kathiri Holding Company recorded a net loss after zakat and tax of SR3.4 million in the second quarter of the current year, compared to a profit of SR3.1 million in the same quarter of the last year. This came after Al Kathiri announcement on Tuesday about the preliminary financial results for the period ending on 30-06-2022 (six months).
The operational loss amounted to SR2.8 million in the second quarter of the current year, compared to a profit of SR3.3 million in the same quarter of the last year.
The net loss after zakat and tax in the 6-month period amounted to SR5.5 million, compared to a profit of SR7.3 million in the same period of the last year.
The gross shareholders equity “after deducting minority equity” amounted to SR128.2 million in the current period, compared to SR132.6 million in the same period of the last year, with a decrease of 3.3%.
The loss per share in the current period amounted to SR0.49, compared to a profit of SR0.64 in the same period of the last year.
The Company incurred a loss in the current quarter compared to making a profit in the same quarter of the last year due to a decrease in revenues and an increase in operational costs and expenses and general and administrative expenses.
The net loss increased from SR2.07 million during the previous quarter to SR3.4 million during the current quarter. The reason for the increase in net loss is the decrease in revenues and the increase in general and administrative expenses and selling and marketing expenses during the current quarter compared to the previous quarter.
The Company incurred a loss in the current period of SR5.5 million, compared to achievement in the same period of the last year of SR7.2 million, and the reason for this was attributable to the decrease in revenues and the increase in general and administrative expenses and selling and marketing expenses during the current period compared to the same period of the last year.
Additional Information:
The calculation of basic/diluted profits per share was based on the profit attributable to ordinary shareholders and the weighted average number of ordinary shares outstanding. Profits per share as at June 30, 2022 had been calculated based on the weighted average number of shares outstanding at the end of the year. The adjusted profits per share were the same as the basic profits per share as the group has neither convertible securities nor dilutive financial instruments to exercise.