Alujain Corporation strives to take the forefront in the development of large industrial projects and create sustainable value for shareholders. So what could affect the losses in the first quarter of 2019 and what happened to the company’s earnings before?
For the whole of 2017, Alujain’s profit increased by 10, 1% to SAR 136,2 million compared to SAR 115,34 million a year earlier.
But already in the first three months of 2018, total sales decreased by 21.03%. The company’s net profit decreased by 23.1% to 104,75 million rials for the whole of 2018. The company attributed the decline in earnings to a decrease in its share of NATPET profits.
And Alujain Corp reported losses of 78,72 million riyals in the first quarter of 2019 against 62,46 million riyals of profit in the first half of 2018. The company’s total revenue for the first three months of 2019 fell by 6.3%. Losses per share (LPS) were SAR 1,14 for the three months ending in March.
The increase in Alujain losses is mainly due to NATPET losses. Sales of the company this year amounted to SAR 0,78 million, compared to SAR 537,05 million at the beginning of last year.
NATPET had meager sales due to the termination of production with significant gross losses due to fixed overheads. The subsidiary also reported higher general and administrative expenses.
NATPET’s net loss for the current quarter was SAR 108,44 million, compared with a net profit of SAR 121,14 million last year.
Buying shares of large-scale industrial corporations is an excellent opportunity to make money, but it is worth remembering the risks. To learn useful information about trading tools, and have a holistic view of companies in the global stock market, stay with Tradeallcrypto.
|Citigroup||Stock Citigroup - course and charts||6||41.81|
|Manchester United||Stock Manchester United - course and charts||10||14.73|
|Exxon Mobil||Stock Exxon Mobil - course and charts||6||34.57|
|NIKE||Stock NIKE - course and charts||6||124.26|
|Santander group||Stock Santander group - course and charts||8||1.75|
|COCA-COLA||Stock COCA-COLA - course and charts||6||48.56|
|JPmorgan Chase and CO||Stock JPmorgan Chase and CO - course and charts||6||93.16|
|MICROSOFT||Stock MICROSOFT - course and charts||6||207.92|
|Chevron||Stock Chevron - course and charts||6||71.59|
|Banque Saudi Fransi||Stock Banque Saudi Fransi - course and charts||25||32.23|
|Stock Facebook - course and charts||6||254.68|
|Arab National Bank||Stock Arab National Bank - course and charts||15||20.17|
|BOEING||Stock BOEING - course and charts||10||155.86|
|Saudi British Bank||Stock Saudi British Bank - course and charts||10||25.68|
|General Electric||Stock General Electric - course and charts||6||6.03|
|FERRARI||Stock FERRARI - course and charts||10||181.22|
|Riyad Bank||Stock Riyad Bank - course and charts||8||18.99|
|AMAZON||Stock AMAZON - course and charts||24||3098.32|
|Goldman Sachs Group||Stock Goldman Sachs Group - course and charts||6||194.64|
|Deutsche Bank||Stock Deutsche Bank - course and charts||8||7.9|
|Saudi Electricity||Stock Saudi Electricity - course and charts||6||16.57|
|Saudi Investment Bank||Stock Saudi Investment Bank - course and charts||8||15.85|
|Tesla Motors||Stock Tesla Motors - course and charts||14||406.19|
|Intel||Stock Intel - course and charts||10||49.92|
|WalMart||Stock WalMart - course and charts||6||137.27|