Alujain Corporation shifted to losses in 2023, recording a net loss of SAR 82.25 million, compared to a net profit of SAR 64.54 million a year earlier.

Revenues dropped 26.92% year-on-year (YoY) to SAR 1.39 billion last year from SAR 1.91 billion, according to the annual financial results.

The company incurred a loss per share of SAR 1.61 in 2023, versus earnings per share (EPS) of SAR 1.31 in 2022.

It is worth noting that Alujain Corporation reported SAR 9.63 million in net profit after Zakat and tax during the first half (H1) of 2023, a 91.89% YoY plunge from SAR 118.75 million.

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