Riyadh - Mubasher: Al Gassim Investment Holding Company (GACO) incurred net losses worth SAR 3.48 million in the first quarter (Q1) of 2025, marking an annual increase of 98.36% from SAR 1.75 million.
The revenues declined by 7.69% year-on-year (YoY) to SAR 2.31 million in the three-month period that ended on 31 March 2025 from SAR 2.51 million, according to the financial statements.
The loss per share deepened to SAR 0.11 in Q1-25 from SAR 0.05 during the same period in 2024.
On a quarterly basis, GACO swung to losses in Q1-25 when compared to net profits of SAR 14.91 million in Q4-24, while the revenues fell by 7.69% from SAR 2.51 million.
It is worth noting that in 2024, GACO turned profitable at SAR 10.23 million, against net losses of SAR 6.71 million in 2023.
The revenues declined by 4.01% YoY to SAR 10.04 million at the end of December 2024 from SAR 10.46 million.
The EPS amounted to SAR 0.34 last year, against a loss per share of SAR 0.22 in 2023.
