Introduction

Losses of Knowledge Economic City Company in the second quarter of this year decreased by 82.4% to 1.5 million rials compared to 8.64 million rials in the second quarter of last year.

The company said in a statement to Tadawul Saudi Arabia today, Sunday, that its quarterly revenue increased by 148.8% to 34.07 million rials compared to 13.69 million rials in the corresponding quarter last year.

She explained that the decrease in losses was due to the increase in sales achieved, as well as the improvement in the gross margin ratio in the second quarter of the year compared to the same quarter of the previous year, which led to a decrease in net loss for the period.

Company’s Loss in the First Half of the Year

The company’s loss decreased by 31% in the first half of this year to approximately 10.6 million rials, compared to 15.36 million rials in the same period last year, as a result of increased sales and improved gross profit ratio in the current period compared to the previous period, a decrease in net loss for the period.