Saudi Company for Hardware (SACO) reported a net loss of SAR 16.5 million in Q1 2023, against a profit of SAR 1.1 million a year earlier on lower sales.
| Item | Q1 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 319.51 | 240.27 | (24.8 %) |
| Gross Income | 56.06 | 27.86 | (50.3 %) |
| Operating Income | 12.46 | (8.75) | (170.2 %) |
| Net Income | 1.11 | (16.52) | (1592.4 %) |
| Average Shares | 36.00 | 36.00 | - |
| EPS (Riyals) | 0.03 | (0.46) | (1592.4 %) |
| Item | Q4 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 311.90 | 240.27 | (23.0 %) |
| Gross Income | (23.73) | 27.86 | 217.4 % |
| Operating Income | (68.94) | (8.75) | 87.3 % |
| Net Income | (77.21) | (16.52) | 78.6 % |
| Average Shares | 36.00 | 36.00 | - |
| EPS (Riyals) | (2.14) | (0.46) | 78.6 % |
Sequentially, the company narrowed its losses from SAR 77.2 million in Q4 2022, as the previous quarter contained inventory provisions and impairment loss on non-financial assets.
Total shareholders’ equity, no minority interest, stood at SAR 397.25 million as of March 31, 2023, compared to SAR 557.29 million a year earlier.
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