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.
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