The net losses of Sinad Holding Company plummeted by 86.10% to SAR 11.80 million in the first nine months (9M) of 2024, compared to SAR 84.90 million in 9M-23.

The revenues hit SAR 1.28 billion in January-September 2024, higher by 9.33% than SAR 1.17 billion in 9M-23, according to the interim financial statements.

Meanwhile, the loss per share retreated to SAR 0.09 in 9M-24 from SAR 0.67 a year earlier.

Income Results for Q3-24

In the third quarter (Q3) of 2024, the Tadawul-listed company turned profitable at SAR 1.30 million, against net losses valued at SAR 39.70 million in Q3-23.

Sinad Holding posted 9.03% higher revenues at SAR 443.90 million in Q3-24, compared to SAR 407.10 million during the same period in 2023.

Quarter-on-quarter (QoQ), the Q3-24 net profits jumped by 44.44% from SAR 900,000 in Q2-24, whereas the revenues grew by 10.80% from SAR 400.60 million.

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