SACO Narrows Losses to SAR 14 Million by End of 2024, Down 80%a

The Saudi Company for Hardware (SACO) reported net losses of SAR 14 million by the end of 2024, marking an 80% improvement from SAR 69 million in 2023. This follows the release of the company’s preliminary financial results for the period ending December 31, 2024.

Key Financial Highlights:

• Operating profit reached SAR 18 million in 2024, compared to operating losses of SAR 40 million in 2023.
• Shareholders’ equity (excluding minority interests) stood at SAR 326 million, down 5% from SAR 344 million in 2023.
• Loss per share decreased to SAR 0.39 in 2024, compared to SAR 1.92 in 2023.