Riyadh – Knowledge Economic City reported net losses after Zakat and tax worth SAR 19.38 million in 2022, lower by 12.22% year-on-year (YoY) than SAR 22.08 million.

Revenues increased by 33.52% to SAR 56.68 million last year from SAR 42.45 million in 2021, according to the income statements.

The loss per share amounted to SAR 0.06 as of 31 December 2022, down from SAR 0.07 a year earlier.

During the first nine months (9M) of 2022, Knowledge Economic City incurred 316.97% YoY higher net losses after Zakat and tax at SAR 10.73 million, compared to SAR 2.57 million.

The revenues surged by 18.10% to SAR 39.57 million in 9M-22 from SAR 33.51 million in 9M-21, while the loss per share rose to SAR 0.03 from SAR 0.01.

Meanwhile, the Saudi firm registered accumulated losses valued at SAR 327.61 million as of 30 September 2022, which represented 9.66% of the SAR 3.39 billion capital.

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