Riyadh – Mubasher: Ayyan Investment Company posted an 18.50% year-on-year (YoY) surge in net loss to SAR 104.26 million in the first half (H1) of 2024 from SAR 87.98 million.
However, the company’s revenue leapt by 41.41% YoY to SAR 206.01 million in H1-24 from SAR 145.67 million in H1-23, according to interim financial results.
The loss per share hit SAR 1.29 from January until the end of June, up from SAR 1.09 in the corresponding period a year earlier.
Quarterly Results
During the second quarter (Q2) of 2024, Ayyan Investment’s net loss rose by 17.17% to SAR 48.35 million from SAR 41.26 million.
Sales soared by 38.82% to SAR 106.18 million in Q2-24 from SAR 76.48 million.
Quarter-on-quarter (QoQ), the company’s net loss plunged by 13.53% in Q2-24 from SAR 55.91 million in the previous quarter, while sales grew by 6.37% from SAR 99.82 million.
The company’s accumulated loss amounted to SAR 361.98 million, accounting for 44.89% of capital.
Ayyan Investment’s net loss jumped by 19.67% YoY to SAR 55.91 million in Q1-24 from SAR 46.72 million.
