Riyadh – Mubasher: The net losses after Zakat and tax of Sinad Holding Company, formerly known as Aseer Trading, Tourism, and Manufacturing Company, enlarged by 354.55% to SAR 10 million in the first half (H1) of 2022, versus SAR 2.20 million.
The firm generated SAR 893.70 million in revenue during the first six months (6M) of 2022, an annual growth of 7.73% from SAR 829.60 million, according to the initial financial results.
The loss per share increased to SAR 0.08 in H1-22 from SAR 0.02 in H1-21.
Meanwhile, the Saudi listed firm incurred accumulated losses worth SAR 50.20 million as of H1-22, accounting for 3.97% of the SAR 1.26 billion capital.
During the second quarter (Q2) of 2022, the company’s net losses after Zakat and tax widened to SAR 20.30 million, compared to SAR 800,000 in Q2-21.
The Q2-22 revenues rose by 4.31% to SAR 420.80 million from SAR 403.40 million in Q2-21.
In January-March 2022, Sinad Holding turned to net profits after Zakat and tax of SAR 10.20 million, against net losses worth SAR 1.40 million during the same period a year earlier.
