Riyadh – Mubasher: Taiba Investments Company incurred net losses after Zakat and tax worth SAR 14.79 million in the first half (H1) of 2021, against net profits of SAR 130.39 million in H1-20.

The loss per share stood at SAR 0.09 in H1-21, versus earnings per share of SAR 0.81 in H1-20, according to the financial results on Thursday.

Revenues declined by 42.6% to SAR 66.83 million in H1-21 from SAR 116.43 million in H1-20.

In the second quarter (Q2) of 2021, the company turned to a loss of SAR 12.88 million, against net profits of SAR 79.82 million in Q2-20. Meanwhile, the revenues grew by 3.66% to SAR 32.57 million from SAR 31.42 million.

On a quarterly basis, the net losses in Q2-21 widened by 574% from SAR 1.91 million in Q2-21, and the revenues decreased by 4.9% from SAR 34.26 million.