Sanad Holding Company recorded a net loss of 21.5 million riyals in the first quarter of 2023 compared to a net profit of 10.2 million riyals in the first quarter of last year.
In a statement to Tadawul Saudi Arabia today, Wednesday, it said revenue for the first quarter of this year fell 11.4% to 419.2 million rials, compared with 473 million rials in the corresponding quarter last year.
She said the reason for recording a net loss compared to achieving net income in the same quarter of the previous year was due to a decrease in gross profit and recording an operating loss in exchange for achieving operating profit in the same quarter of the previous year. the previous year, and the total profit from sales and investments decreased, and other income decreased along with an increase in finance and zakat expenses.
