Riyadh – Mubasher: Al Sorayai Trading and Industrial Group (Al Sorayai) disclosed its interim financial results for the second quarter of 2019.

The company swung to losses with SAR 48.9 million in Q2-19, against profits of SAR 921,000 in Q2-18, according to the company’s recent statement to the Saudi Stock Exchange (Tadawul).

Revenues of the Saudi-based company fell by 53.6% to SAR 52.7 million by the end of June, compared to SAR 113.7 million in the same period of the previous year.

For the first half of 2019, Al Sorayai suffered SAR 84.7 million in losses, against profits of SAR 2.3 million in H1-18.

Revenues plunged by 47.4% year-on-year to SAR 117.75 million during the six-month period ended in June.

Loss per share recorded SAR -3.77 in H1-19, versus profit per share of SAR 0.1 in the same period the year before.