SVCP losses decreased by 95.2% during Q2, to 500K riyals

Saudi Vitrified Clay Pipe co. announced a decrease in net loss after zakat and tax in the second quarter by 0.5 million riyals, compared to 10.4 million riyals in the same quarter of last year, at a rate of 95.2%. This came after today’s announcement of the preliminary financial results for the period ending in 2023 – 06-30 (six months).

The operational loss amounted to 0.29 million riyals in the second quarter, compared to 9.8 million riyals in the same quarter of the previous year, a decline of 97%.

The net loss after zakat and tax during the 6-month period amounted to 3.3 million riyals, compared to 9.2 million riyals in the same period last year, a decrease of 63.6%.

The total shareholders’ equity “without minority rights” amounted to 265.3 million riyals in the current period, compared to 267.7 million riyals in the same period last year, a decrease of 0.89%.

The loss per share in the current period reached 0.22 riyals, compared to 0.61 riyals in the same period last year.

The reason for the decrease in net losses during the current quarter compared to the same quarter of the previous year is due to the increase in sales, the increase in other income and the decrease in the cost of sales

The reason for the decrease in net losses during the current quarter compared to the previous quarter is due to the increase in other revenues

– The reason for the decrease in net losses during the current period compared to the same period of the previous year is due to the increase in sales and the decrease in the cost of sales.