Riyadh – Mubasher: Arab Sea Information System Company turned to net profits after Zakat and tax worth SAR 9.02 million in the first half (H1) of 2021, against losses worth SAR 3.58 million H1-20.

Earnings per share amounted to SAR 0.9 in H1-21, versus a loss per share of SAR 0.36 in H1-20, according to the financial results on Monday.

Revenues soared by 89% to SAR 22.23 million in the first six months of 2021 from SAR 11.75 million in the same half last year.

During the second quarter (Q2) of 2021, Arab Sea also turned profitable at SAR 9.37 million, against losses worth SAR 1.85 million in Q2-20.

Revenues jumped by 152% to SAR 13.36 million in Q2-21 from SAR 5.29 million in Q2-20.

Quarter-on-quarter (QoQ), the net profits in Q2-21 were versus losses of SAR 353,143 in Q1-21, while the revenues increased by almost 51% from SAR 8.86 million.