Riyadh–Mubasher: Red Sea International Company has suffered net losses after Zakat and tax worth SAR 130.4 million in 2021, a % 17.62 year-on-year (YoY) plunge from SAR 158.3 million.

Revenues stood at SAR 468.2 million in 2021, down 12.23% from SAR 533.5 million in 2020, according to a recent bourse filing.

The loss per share fell to SAR 2.17 last year from SAR 2.64 in 2020.

In the third quarter (Q3) of 2021, the Saudi listed company recorded net losses after Zakat and tax worth SAR 31.2 million, an annual decrease of 30% from SAR 44.8 million.