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Al Abdullatif Industrial’s net losses enlarge 29% in 2023

Al Abdullatif Industrial’s net losses enlarge 29% in 2023
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ALABDULLATIF
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22.28% 17.56 3.20

Riyadh – Mubasher: Al Abdullatif Industrial Investment Company suffered 29.24% higher net losses at SAR 74.79 million in 2023, compared to SAR 57.87 million in 2022.

The revenues shrank by 19.29% year-on-year (YoY) to SAR 522.61 million in 2023 from SAR 647.50 million, according to the financial results.

Meanwhile, the company’s loss per share jumped to SAR 0.92 last year from SAR 0.71 as of 31 December 2022.

At the end of 30 September 20023, the Saudi firm reported a 105.78% YoY leap in net loss to SAR 64.06 million, compared to SAR 31.13 million.

The accumulated losses hit SAR 91.34 million as of 30 September 2023, equivalent to 11.24% of the SAR 812.50 million capital.