Riyadh – Mubasher: The net losses of Sinad Holding Company shrank by 97.06% to SAR 3.90 million in 2024 from SAR 132.60 million in 2023.
The loss per share declined to SAR 0.03 as of 31 December 2024 compared with SAR 1.05 in the same period a year earlier, according to the income statements.
Meanwhile, the company generated 6.96% higher revenue at SAR 1.75 billion in 2024 from SAR 1.63 billion in 2023.
The higher sales were attributed to increase in the company's sales in Saudi Arabia as well as in export sales at the group level. This is in addition to sales geographical expansion through growing sales channels.
During the first nine months (9M) of 2024, Sinad Holding posted lower net losses at SAR 11.80 million in addition to revenue worth SAR 11.80 million.
