Riyadh – Mubasher: Fitaihi Holding Group registered a net loss of SAR 16.87 million in the second quarter (Q2) of the year, versus a net profit of SAR 7.45 million in the prior-year period.
The turn to loss resulted from a decrease in sales by 47.8%, coupled with lower sales profit margin and losses of SAR 5.6 million from discontinued operations of, according to a bourse disclosure on Tuesday.
Dividends from investments contracted by 99.9%, whereas Zakat expense rose by 68.8%
Revenue shrank by 80.34% on a yearly basis during the April-June period, reaching SAR 5.62 million.
In the first six months of the year, the group moved to net losses of SAR 19.282 million, against net profits of SAR 13 million in the same period a year earlier.
