Al Mazaya Holding turns to profitability in Q1-21

Mubasher: Al Mazaya Holding has reported KWD 41,649 net profits attributable to the shareholders of the parent company during the first quarter (Q1) of 2021, against net losses of KWD 3.46 million in the year-ago period, according to the company's interim consolidated financial results for the period ended 31 March 2021.

The company's revenues decreased to KWD 2.78 million in the first three months of 2021 from KWD 4.341 million in the same quarter of 2020.

The basic earnings per share (EPS) settled at 0.07 fils in Q1-21, against the loss per share of 5.51 fils in the corresponding period of the earlier year.

Meanwhile, the diluted earnings per share (EPS) stood at 0.07 fils in the January-March period of 2021, compared to the loss per share of 5.49 fils in the same period of 2020.

It is noteworthy to mention that in 2020, the company reported an around 3% decline in net losses attributable to the parent company's shareholders to KWD 8.48 million, compared to KWD 8.77 million in 2019.

Source: Mubasher

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