Saudi Alujain Corp turns to losses in Q2

Alujain Corp posted its interim financial statement for the second quarter of 2019.

  

Riyadh – Mubasher: Alujain Corp posted its interim financial statement for the second quarter of 2019.

The company suffered SAR 71.01 million in losses in Q2-19, against profits of SAR 63.99 million in Q2-18, according to a bourse filing on Thursday.

Total revenues declined by 6.95% to SAR 6.5 million during the three-month period ended June, compared to SAR 7.05 million in the same period of the previous year.

For the first half of 2019, Alujain’s net losses recorded SAR 149.72 million, versus profits of SAR 126.45 million in H1-18.

Revenues of the Saudi-based company retreated by 6.6% year-on-year to SAR 11.31 million by the end of June.

Loss per share recorded SAR 2.16 in H1-19, against a profit per share of SAR 1.83 in H1-18.

In August, Alujain Corp announced that it will not be able to publish its financial results on time as its affiliate NATPET did not submit its financials.

Source: Mubasher

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