Riyadh – Saudi Industrial Services Company (SISCO) has registered net profits after Zakat and tax of SAR 3.90 million during the first half (H1) of 2022, a drop of 92.87% from SAR 54.70 million in H1-21.

The revenues decreased by 10.66% year-on-year (YoY) to SAR 456 million in the first six months (6M) of 2022, versus SAR 510.40 million, according to the initial financial results.

Additionally, the earnings per share (EPS) plummeted to SAR 0.05 in H1-22 from SAR 0.67 in H1-21.

During the second quarter (Q2) of 2022, SISCO posted an 86.22% plunge in net profit after Zakat and tax to SAR 3.10 million, compared to SAR 22.50 million in Q2-21.

The Q2-22 revenues stood at SAR 243.40 million, an annual decline of 3.45% from SAR 252.10 million.

In January-March 2022, the Saudi company’s net profits after Zakat and tax shrank by 97.52% YoY to SAR 800,000 from SAR 32.30 million.

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