Riyadh – Mubasher: Sinad Holding Company incurred net losses after Zakat and tax worth SAR 64.70 million in the first nine months (9M) of 2022, an annual leap of 125.44% from SAR 28.70 million.
Revenues surged by 6.87% to SAR 1.32 billion during January-September 2022, compared to SAR 1.24 billion in the year-ago period, according to the interim financial results.
Moreover, the loss per share enlarged to SAR 0.51 in 9M-22 from SAR 0.23 in 9M-21.
Sinad Holding registered accumulated losses worth SAR 104.80 million as of 30 September 2022, accounting for 8.29% of the SAR 1.26 billion capital.
In the third quarter (Q3) of 2022, the net losses after Zakat and tax hiked by 105.26% year-on-year (YoY) to SAR 54.60 million from SAR 26.60 million.
The revenues grew by 5.13% YoY to SAR 432.30 million in Q3-22 from SAR 411.20 million.
On a quarterly basis, the net losses after Zakat and tax in Q3-22 widened by 168.97% from SAR 20.30 million, while the revenues went up by 2.73% from SAR 420.80 million in Q2-22.
In the first half (H1) of 2022, the company’s net losses after Zakat and tax amounted to SAR 10 million, higher by 354.55% than SAR 2.20 million in H1-21.
