Saudi: Seera's net losses fall to $12.26mln in 2022

Reuters Images/Ahmed Yosri

The Saudi firm recorded a 71.01% hike in revenue

Staff Writer, Mubasher

March 30, 2023

PHOTO

Riyadh – The net losses after Zakat and tax of Seera Group Holding plummeted by 87.67% to SAR 46 million in 2022, compared to SAR 373 million in 2021.

The Saudi firm recorded a 71.01% hike in revenue to SAR 2.27 billion last year from SAR 1.32 billion in 2021, according to the income statements.

Loss per share hit SAR 0.16 as of 31 December 2022, versus SAR 1.27 a year earlier.

During the first nine months (9M) of 2022, the group’s net losses after Zakat and tax amounted to SAR 77 million, lower by 74.50% year-on-year (YoY) than SAR 302 million.

Revenues enlarged by 93.46% to SAR 1.62 billion in 9M-22 from SAR 841 million in 9M-21, whereas the loss per share retreated to SAR 0.27 from SAR 1.02.

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