Anaam International Holding Group Co. said its first-quarter normalized net income was a loss of 1 halalas per share, compared with a loss of 27 halalas per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 202,960 riyals, compared with a loss of 5.3 million riyals in the year-earlier period.
The normalized profit margin increased to 7.7% from negative 18.3% in the year-earlier period.
Total revenue fell 53.1% on an annual basis to 13.5 million riyals from 28.9 million riyals, and total operating expenses fell 64.0% on an annual basis to 13.6 million riyals from 37.7 million riyals.
Reported net income came to 1.5 million riyals, or 8 halalas per share, compared to a loss of 7.5 million riyals, or a loss of 38 halalas per share, in the year-earlier period.
As of April 20, US$1 was equivalent to 3.75 Saudi Arabian riyals.
