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Naseej International incurs 73% lower losses in Q1

Naseej International incurs 73% lower losses in Q1
Naseej International posted a loss per share of SAR 0.85 in Q1-21
NASEEJ
1213
3.43% 102.40 3.40

Riyadh – Mubasher: Naseej International Trading Company posted a net loss after Zakat and tax of SAR 5.26 million during the first quarter (Q1) of 2021, down by 73% from SAR 19.54 million in Q1-20.

The company posted a loss per share of SAR 0.85 in Q1-21, compared with SAR 1.84 in Q1-20, according to the interim financial statements.

Revenues meanwhile increased by 63.27% on an annual basis to SAR 70.26 million in the first three months of 2021, from SAR 43.03 million.

Quarter-on-Quarter, Naseej International posted a 32.49% decrease in net losses from SAR 7.8 million in the fourth quarter (Q4) of 2020.

Revenues have increased 10.36% year-on-year (YoY) in Q1-21 from SAR 63.66 million.

Last December, the company said its accumulated losses had dropped to 0% of the capital.