Batic Investments narrows 2021 loss to SAR 9.7 mln; Q4 at SAR 10 mln
Posted On March 24, 2022
Batic Investments and Logistics Co. posted a net loss after Zakat and tax of SAR 9.7 million for 2021, compared with a loss of SAR 11.61 million a year earlier.
The company attributed the decline in loss to the improvement in gross profit of some operating segments of subsidiaries, such as the security guards, CIT and ATM, in addition to recording a gross profit from the smart parking segment compared to a gross loss in the previous year.
This improvement was offset by the decrease in gross profit of some other segments, the most important of which is land transport and medical equipment supplies, where no revenues were achieved from the medical equipment supplies segment during 2021, compared to revenues of SAR 82 million a year earlier.
The company’s Q4 2021 net loss amounted to SAR 10 million, compared with SAR 10.47 million in year- earlier period.
On a sequential basis, the company turned to a loss in Q4 2021 from a net profit of SAR 0.26 million in Q3 2021.
Total shareholders’ equity, after minority interest, amounted to SAR 225.8 million at the end of 2021, down 37.2% compared with SAR 359.3 million a year before.