Riyadh – Mubasher: Al Baha Investment and Development Company incurred a net loss after Zakat and tax worth SAR 994,581 in the first quarter (Q1) of 2021, against a net profit of SAR 380,799 in the same period a year ago.
The company registered a loss per share of SAR 0.05 in Q1-21, versus earnings per share of SAR 0.02 in Q1-20, according to the initial financial statements.
Annual revenues declined 7.8% to SAR 2.54 million in Q1-21 from SAR 2.75 million in Q1-20.
On a quarterly basis, the net losses in Q1-21 were 96.7% lower than SAR 30.82 million incurred during Q4-20.
Revenues were also down by 12.6% in Q1-21 when compared to SAR 2.9 million in Q4-20.
Until 31 March 2021, the accumulated losses reached SAR 70.25 million, representing 39.6% of the SAR 177.7 million capital.
