Riyadh – Mubasher: Sinad Holding Company posted a 352% leap in net loss after Zakat and tax to SAR 45.20 million during the first half (H1) of 2023, compared to SAR 10 million in H1-22.
The revenues amounted to SAR 777 million as of 30 June 2023, down 12.42% year-on-year (YoY) from SAR 887.20 million, according to the interim financial results.
Loss per share increased to SAR 0.37 in the first six months (6M) of 2023 from SAR 0.08 a year earlier.
Income Statements for Q2-23
The listed firm recorded incurred net losses worth SAR 23.60 million in the second quarter (Q2) of 2023, an annual surge of 16.26% from SAR 20.30 million.
Revenues hit SAR 357.80 million in April-June 2023, lower by 13.62% YoY than SAR 414.20 million.
On a quarterly basis, the Q2-23 losses soared by 9.77% from the SAR 21.50 million registered as of 31 March 2023, while the revenues shrank by 14.65% from SAR 419.20 million.
Accumulated Losses
Sinad Holding reported accumulated losses valued at SAR 72.70 million as of 30 June 2023, equivalent to 5.75% of the SAR 1.26 billion capital.
