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MarketScreener Homepage  >  Equities  >  SAUDI ARABIA STOCK EXCHANGE  >  Red Sea International Co    4230   SA000A0KEWM4

RED SEA INTERNATIONAL CO (4230)
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Red Sea International : losses surge in Q3, 9M

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11/09/2018 | 07:49am CET

Red Sea International incurs SAR 39m in 9M

RED SEA4230

-0.41% 14.42 -0.06

Riyadh – Mubasher: Saudi Arabia-based Red Sea International Co. on Thursday reported an 8.8% year-on-year increase in losses during the third quarter of 2018, and 309.2% surge in losses for the first nine months of the year.

Red Sea International’s net losses after calculating Zakat and Tax amounted to SAR 13.78 million ($3.67 million) by the end of Q3-18, up from SAR 12.66 million ($3.38 million) during Q3-17, according to a statement to the Saudi Stock Exchange (Tadawul).

The firm attributed the rise in losses to drop by SAR 5.3 million in gross profits.

Revenues grew 1.2% to SAR 188.50 million from July to September, compared to SAR 186.23 million a year earlier.

Quarter-on-quarter, losses increased by 40.3%, from SAR 9.8 million.

At the level of the first nine months, Red Sea International’s net losses after calculating Zakat and Tax surged by 309.2% to SAR 39 million, from SAR 9.53 million in the same months last year.

Year-on-year, sales fell 12.25%, reaching SAR 537.36 million from SAR 612.35 million.

Losses per share (LPS) amounted to SAR 65, up from SAR 16.

Red Sea International Co.’s stock shed 0.41% to close Thursday’s trading session at SAR 14.42.

Source: Mubasher

(c) All Rights Reserved - Mubasher Info 2005 - 2018 Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Income Statement Evolution
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Sell
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Mean consensus UNDERPERFORM
Number of Analysts 1
Average target price 16,0  SAR
Spread / Average Target 12%
Managers
NameTitle
Abdulaziz Hasan Abdel Qader Gabel Group Chief Executive Officer & Executive Director
Ibrahim bin Hassan Mohammed Al-Madhoun Chairman
Anjan Mitra Chief Financial Officer
Hussein Abdullah Mohammed Al-Dabbagh Non-Executive Director
Jamal Abdullah Mohammed Al-Dabbagh Vice Chairman
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