Saudi: Al Abdullatif Industrial suffers higher losses in 2022; accumulated losses unveiled

Revenues edged up by 0.93%

Staff Writer, Mubasher

March 31, 2023

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Riyadh – The net losses after Zakat and tax of Al Abdullatif Industrial Investment Company hit SAR 57.87 million in 2022, higher by 21.19% year-on-year (YoY) than SAR 47.75 million.

Revenues edged up by 0.93% to SAR 647.50 million last year from SAR 641.52 million in 2021, according to the income statements.

The loss per share reached SAR 0.71 during January-December 2022, versus SAR 0.59 a year earlier.

Accumulated Losses

The Saudi firm reported accumulated losses worth SAR 27.28 million as of 31 December 2022, accounting for 3.36% of the SAR 812.50 million capital.

In the first nine months (9M) of 2022, Al Abdullatif Industrial incurred net losses after Zakat and tax worth SAR 31.13 million, a 212.86% YoY leap from SAR 9.95 million.

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