Saudi's Batic Investments swings to $3.2mln losses in H1-22; accumulated losses announced

Riyadh – Batic Investments and Logistics Company turned to net losses after Zakat and tax worth SAR 11.88 million in the first half (H1) of 2022, versus net profits of SAR 131,242 in H1-21.

The company generated revenues of SAR 210.08 million in H1-22, an annual drop of 11.25% from SAR 236.73 million, according to the initial income statements.

Additionally, the loss per share stood at SAR 0.21 during the January-June period.

Meanwhile, Batic Investments incurred accumulated losses worth SAR 17.47 million as of H1-22, representing 2.90% of the SAR 600 million capital.

During the second quarter (Q2) of 2022, the Saudi listed firm also movedshifted to [IE1] net losses after Zakat and tax of SAR 12.72 million, against net profits worth SAR 3.35 million in Q2-21.

Furthermore, the revenues amounted to SAR 100.42 million in April-June 2022, lower by 11.20% year-on-year (YoY) than SAR 113.09 million.

In the first three months (3M) of 2022, the company turned to net profits after Zakat and tax of SAR 842,232, compared tonet losses of SAR 3.22 million in the year-ago period.

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