Riyadh – Mubasher: Saudi Industrial Development Company (SIDC) posted an increase of 7% in net losses after Zakat and tax to SAR 6.1 million in the first half (H1) of 2021 from SAR 5.7 million in H1-20.
The loss per share stood at SAR 0.15 in H1-21, compared to SAR 0.14 in H1-20, according to the income statements on Tuesday.
Revenues grew by 6.8% to SAR 87.5 million in the first six months of 2021 from SAR 81.9 million in the January-June 2020 period.
At the end of June 2021, the accumulated losses reached SAR 28.97 million, representing 7.24% of the SAR 400 million capital.
In the second quarter (Q2) of 2021, SIDC turned to losses of SAR 4.3 million against net profits of SAR 4.3 million in Q2-20.
Revenues edged up 0.7% to SAR 41.9 million in Q2-21 from SAR 41.6 million in Q2-20.
On a quarterly basis, the net losses in Q2-21 deepened by 152.9% from SAR 1.7 million in Q1-21, while the revenues shrank by 7.9% from SAR 45.5 million.
