Riyadh – Mubasher: Al Abdullatif Industrial Investment Company registered net losses after Zakat and tax worth SAR 31.13 million in the first nine months (9M) of 2022, an annual hike of 212.86% from SAR 9.95 million.
The Saudi firm posted a 6.79% year-on-year (YoY) growth in revenue to SAR 492.48 million during 9M-22, compared to SAR 461.18 million, according to the interim financial results.
Meanwhile, the loss per share increased to SAR 0.38 in 9M-22 from SAR 0.12 in 9M-21.
During the third quarter (Q3) of 2022, the company’s net losses after Zakat and tax amounted to SAR 15.57 million, higher by 47.02% than SAR 10.59 million in Q3-21.
Revenues declined by 8.69% YoY to SAR 142.60 million in Q3-22 from SAR 156.17 million.
On a quarterly basis, the net losses after Zakat and tax in Q3-22 enlarged by 351.30% from SAR 3.45 million, while the revenues shrank by 15.23% from SAR 168.23 million in Q2-22.
In 6M-22, Al Abdullatif Industrial shifted to net losses after Zakat and tax worth SAR 15.56 million, against net profits of SAR 640,000 during the same period in the previous year.
