Sinad Holding incurs SAR 133m losses in 2023

Sinad Holding incurs SAR 133m losses in 2023

Riyadh – Mubasher: Sinad Holding Company swung to losses in 2023, recording to a net loss of SAR 132.60 million in 2023, compared to a net profit of SAR 10.10 million a year earlier.

Revenues declined by 8.02% YoY to SAR 1.61 billion last year from SAR 1.75 billion, according to the annual financial results.

The loss per share amounted to SAR 1.05 in the 12-month period that ended on 31 December 2023, versus earnings per share (EPS) of SAR 0.08 the year before.

Sinad Holding’s net profit surged 31.22% YoY to SAR 84.90 million in the first nine months (9M) of 2023 from SAR 64.70 million.

Sinad Holding incurs SAR 133m losses in 2023