Riyadh – Mubasher: Fawaz Abdulaziz Al-Hokair Company (Cenomi Retail) turned to net losses valued at SAR 67.60 million in the first half (H1) of 2024, against profits worth SAR 113.80 million in H1-23.
The revenues amounted to SAR 2.59 billion in H1-24, an annual decline of 6.06% from SAR 2.75 billion, according to the financial results.
Loss per share hit SAR 0.60 as of 30 June 2024, versus earnings per share (EPS) of SAR 0.98 a year earlier.
Financials for Q2-24
In the second quarter (Q2) of 2024, the company’s net profits shrank by 50.47% to SAR 84.10 million from SAR 169.80 million in Q2-23.
The revenues fell by 11.64% to SAR 1.26 billion in Q2-24 from SAR 1.42 billion in April-June 2023.
Quarterly, Cenomi Retail turned profitable in Q2-24 when compared with net losses valued at SAR 151.70 million in Q1-24, while the revenues dropped by 5.20% from SAR 1.32 billion.
Accumulated Losses
The accumulated losses of Cenomi Retail hit SAR 1.47 billion as of 30 June 2024, equivalent to 129% of the capital.
