Riyadh – Mubasher: The net losses after Zakat and tax of Sinad Holding Company hiked by 31.22% to SAR 84.90 million in the first nine months (9M) of 2023 from SAR 64.70 million in 9M-22.
Revenues dropped by 9.68% to SAR 1.18 billion as of 30 September 2023 from SAR 1.31 billion a year earlier, according to the initial financial results.
The loss per share amounted to SAR 0.67 in 9M-23, up year-on-year (YoY) from SAR 0.51.
Financials for Q3-23
In the third quarter (Q3) of 2023, Sinad Holding recorded 27.29% lower net losses after Zakat and tax at SAR 39.70 million, versus SAR 54.60 million a year earlier.
The revenues hit SAR 412.30 million during the July-September 2023 period, marking a 4.03% YoY decrease from SAR 429.60 million.
On a quarterly basis, the net losses incurred in Q3-23 widened by 68.22% from SAR 23.60 million in Q2-23, while the revenues increased by 15.23% from SAR 357.80 million.
Accumulated Losses
The Saudi firm registered accumulated losses standing at SAR 112.40 million as of 30 September 2023, accounting for 8.89% of the SAR 1.26 billion capital.
