Riyadh – Mubasher: Ayyan Investment Company turned to net losses after Zakat and tax worth SAR 14.83 million in the first nine months (9M) of 2022, against net profits of SAR 14.33 million in 9M-21.
The revenues edged up by 0.40% year-on-year (YoY) to SAR 209.59 million in the January-September 2022 period, compared to SAR 208.76 million, according to the initial income statements.
Meanwhile, the loss per share stood at SAR 0.19 in 9M-22, versus earnings per share (EPS) of SAR 0.16 during the same period a year earlier.
Ayyan Investment registered accumulated losses worth SAR 13.27 million as of 30 September 2022, accounting for 1.65% of the SAR 806.36 million capital.
In the third quarter (Q3) of 2022, the company swung to net losses after Zakat and tax worth SAR 16.80 million, compared to net profits after Zakat and tax of SAR 4.56 million in Q3-21.
Furthermore, the Q3-22 revenues went up by 3.54% YoY to SAR 68.13 million from SAR 65.80 million.
On a quarterly basis, the Q3-22 net losses after Zakat and tax enlarged by 44.25% from SAR 11.64 million in Q2-22, whereas the revenues grew by 3.45% from SAR 65.86 million.
During January-June 2022, the Saudi firm’s net profits after Zakat and tax amounted to SAR 1.96 million, lower by 79.84% YoY than SAR 9.76 million.
