Saudi Vitrified Clay incurs losses in H1

Sales shrank 19%

  
Saudi traders monitor stock information at the Saudi stock market in Riyadh, Saudi Arabia August 25, 2020.

Saudi traders monitor stock information at the Saudi stock market in Riyadh, Saudi Arabia August 25, 2020.

REUTERS/Ahmed Yosri
Riyadh – Mubasher: Saudi Vitrified Clay Pipes Company suffered a net loss after Zakat and tax worth SAR 1.21 million during the first half (H1) of 2021, against profits of SAR 8.27 million in H1-20.

Losses per share stood at SAR 0.08 in H1-21, versus earnings per share of SAR 0.55 in H1-20, according to the initial financial results on Sunday.

Sales decreased by 30.8% to SAR 47.41 million in the first six months of 2021 from SAR 68.59 million in the same period a year ago.

As for the second quarter (Q2) of 2021, Saudi Vitrified Clay incurred net losses of SAR 1.43 million, against net profits worth SAR 2.86 million in Q2-20.

Sales shrank 19% to SAR 22.66 million in Q2-21 from SAR 28.03 million in Q2-20.

Quarter-on-quarter (QoQ), the company turned to losses in Q2-21 versus net profits of SAR 0.23 in Q1-21. Sales have decreased by 8% in the April-June 2021 period from SAR 24.75 million in the first three months of the year.

Source: Mubasher

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