Riyadh – Mubasher: Saudi Company for Hardware (SACO) has incurred net losses after Zakat and tax worth SAR 28.49 million in 2021, against profits amounting to SAR 85.53 million in 2020.

The company’s revenues reached SAR 1.27 billion, a 14.12% decrease from SAR 1.48 billion in 2020.

The loss per share stood at SAR 0.79 in 2021, versus earnings per share of SAR 2.38 in 2020, according to the financial results on Wednesday.

It is worth mentioning that in the first half (H1) of 2021, SACO logged a net profit after Zakat and tax worth SAR 30.08 million, a 32.90% decrease from SAR 44.86 million in H1-20.