Riyadh – Mubasher: The net losses after zakat and tax of Saudi Industrial Export Company (SIEC) plunged by 60.1% to SAR 4.52 million during the first half (H1) of 2021, compared to SAR 11.33 million in the corresponding half of 2020.
The company generated revenues of SAR 12.26 million in the first six months of 2021, down 48.27% from SAR 23.7 million in the year-ago period, according to a bourse filing on Sunday.
The losses per share stood at SAR 0.7 in H1-21, versus SAR 1.75 in the same period of 2020.
During the second quarter (Q2) of 2021, the company's net losses recorded SAR 1.87 million, 83.8% lower than SAR 11.55 million in the year-ago period.
Meanwhile, the company has incurred accumulated losses of SAR 42.47 million, representing 65.54% of the capital.
It is noteworthy to mention that during the first quarter (Q1) of 2021, SIEC incurred net losses after Zakat and tax worth SAR 2.64 million, against net profits of SAR 22,000 in Q1-20.
