Zamil reports $13.86mln losses in Q1-22 initial results

On a quarterly basis, the revenues in Q1-22 edged down by 0.37%

Staff Writer, Mubasher

Riyadh – Zamil Industrial Investment Company has registered net losses after Zakat and tax of SAR 51.92 million during the first quarter (Q1) of 2022, versus net profits worth SAR 5.20 million in Q1-21.

The company generated SAR 896.79 million in revenue in Q1-22, an annual decrease of 5.51% from SAR 949.18 million, according to the interim financial results.

Moreover, the loss per share settled at SAR 0.87 during the first three months (3M) of 2022, compared to earnings per share (EPS) of SAR 0.09 in the year-ago period.

On a quarterly basis, the revenues in Q1-22 edged down by 0.37% from SAR 900.20 million in Q4-21, while the net losses plunged by 69.90% from SAR 172.53 million.

In 2021, the net losses after Zakat and tax of Zamil inched down by 0.28% to SAR 159.41 million from SAR 159.87 million in 2020.

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