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Sinad Holding posts SAR 14m losses in Q1-24; accumulated losses reported

Sinad Holding posts SAR 14m losses in Q1-24; accumulated losses reported
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SINAD HOLDING
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Default Company
7204.B
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Riyadh – Mubasher: Sinad Holding Company registered SAR 14 million in net loss during the first quarter (Q1) of 2024, an annual plunge of 34.88% from SAR 21.50 million.

The revenues hit SAR 443.90 million in the January-March 2024 period, up 6.37% year-on-year (YoY) from SAR 417.30 million, according to the interim financials.

In the first three months (3M) of 2024, the loss per share plummeted to SAR 0.11 from SAR 0.17 a year earlier.

Quarterly, the net losses in Q1-24 retreated by 70.71% from SAR 47.80 million in Q4-23, while the revenues increased by 3.88% from SAR 427.30 million.

Accumulated Losses

Sinad Holding reported accumulated losses valued at SAR 174.30 million as of 31 March 2024, representing 13.79% of the capital.

In 2023, the company turned to net losses worth SAR 132.60 million, against net profits amounting to SAR 10.10 million a year earlier.