Riyadh - Mubasher: Saudi Vitrified Clay Pipe Company (SVCP) incurred net losses after Zakat and tax worth SAR 2.10 million in 2021, against profits amounting to SAR 10.70 million in 2020.

The company’s revenues decreased by 28.11% to SAR 88.70 million in 2021 from SAR 123.40 million in the previous year, according to a bourse filing on Monday.

Moreover, the loss per share stood at SAR 0.14 million in 2021, versus earnings per share of SAR 0.71 million in 2020.

It is worth noting that during the first half (H1) of 2021, Saudi Vitrified Clay registered net losses worth SAR 1.21 million, against profits of SAR 8.27 million in H1-20.