Riyadh – Mubasher: Red Sea International Company’s third-quarter losses increased by 60.6% on an annual basis to stand at SAR 44.8 million due to lower revenues and gross profits.

The Tadawul-listed firm generated SAR 114 million in revenue during the July-September period of the year, a yearly decrease of 19.2%, according to a bourse filing on Wednesday.

During the first nine months of 2020, the losses widened by 32.6% yearly to reach SAR 97.3 million.