Riyadh – Mubasher: Saudi Ceramic Company shifted to net losses after Zakat and tax worth SAR 120.55 million in the first nine months (9M) of 2023, against net profits valued at SAR 132.03 million in 9M-22.
Revenues hit SAR 933.58 million in 9M-23, lower by 15.25% year-on-year (YoY) than SAR 1.10 billion, according to the interim financial results.
Loss per share hit SAR 1.51 as of 30 September 2023, versus earnings per share (EPS) of SAR 1.65 in 9M-22.
Financials for Q3-23
During the third quarter (Q3) of 2023, the Saudi firm turned to net losses after Zakat and tax standing at SAR 168.55 million, compared to net profits of SAR 42.77 million a year earlier.
The revenue dropped by 14.98% to SAR 311.64 million in Q3-23 from SAR 366.55 million in the July-September 2022 period.
On a quarterly basis, the company also swung to net losses in Q3-23 when compared with net profits valued at SAR 33.29 million in Q2-23, while the revenues hiked by 26.44% from SAR 253.04 million.
