Batic Investments’ losses hike 219.5% in 2022; accumulated losses announced

The revenues amounted to $114mln last year, down 9.97% from $126.61mln in 2021

Staff Writer, Mubasher

March 13, 2023

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Riyadh – Batic Investments and Logistics Company incurred net losses after Zakat and tax worth SAR 30.83 million in 2022, an annual leap of 219.59% from SAR 9.64 million.

The revenues amounted to SAR 427.49 million last year, down 9.97% from SAR 474.82 million in 2021, according to the annual consolidated financial results.

Loss per share hit SAR 0.52 in the January-December 2022 period, higher than SAR 0.32 a year earlier.

Accumulated Losses

Batic Investments registered accumulated losses worth SAR 39.91 million as of 31 December 2022, accounting for 6.70% of the SAR 600 million capital.

In the first nine months (9M) of 2022, the Tadawul-listed firm turned to net losses after Zakat and tax worth SAR 24.67 million, versus net profits of SAR 600,574 in 9M-21.

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