Riyadh – Mubasher: Al Gassim Investment Holding Company (GACO) incurred net losses after Zakat and tax worth SAR 317,337 in the first half (H1) of 2021, versus net profits of SAR 1.24 million in H1-20.
The loss per share amounted to SAR 0.011 in H1-21, compared to SAR 0.042 in H1-20, according to a bourse filing on Wednesday.
Revenues declined by 1.9% to SAR 5.63 million in the first six months of 2021 from SAR 5.74 million in the same period last year.
At the end of June 2021, the accumulated losses reached SAR 12.02 million, representing 4.01% of the SAR 300 million capital.
In the second quarter (Q2) of 2021, GACO also turned to losses of SAR 282,892 against net profits worth SAR 775,845 in Q2-20.
The revenues decreased by 1.8% to SAR 2.81 million in Q2-21 from SAR 2.87 million in Q2-20.
