Riyadh – Mubasher: Saudi Ceramic Company incurred 66.63% year-on-year (YoY) lower net losses at SAR 79.25 million in 2024, versus SAR 237.51 million.
The Tadawul-listed firm posted revenues worth SAR 1.34 billion in 2024, an annual growth of 2.58% from SAR 1.31 billion, according to the financial statements.
Loss per share plummeted to SAR 0.80 last year from SAR 2.33 in the January-December 2023 period.
The decrease in net losses was attributed to the company’s provision of SAR 165 million to address the impact of a fire incident at one of its factories.
It also recognised impairment in its subsidiary’s assets, Ceramic Pipes Company, amounting to SAR 78 million.
In the first nine months (9M) of 2024, Saudi Ceramic turned profitable at SAR 10.77 million, against net losses of SAR 120.55 million in 9M-23.
