Saudi: Ayyan Investment swings to losses in 2022; accumulated losses near $11.46mln

Riyadh – Ayyan Investment Company shifted to net losses after Zakat and tax worth SAR 44.63 million in 2022, compared to net profits of SAR 6.37 million in 2021.

Revenues stood at SAR 266.22 million last year, down 1.24% from SAR 269.56 million in 2021, according to the income statements.

The loss per share hit SAR 0.56 in 2022, against earnings per share (EPS) valued at SAR 0.06 a year earlier.

Accumulated Losses

The accumulated losses of Ayyan Investment reached SAR 42.90 million as of 31 December 2022, equivalent to 5.30% of the company’s capital.

In the first nine months (9M) of 2022, the Saudi firm swung to net losses after Zakat and tax worth SAR 14.83 million, versus net profits of SAR 14.33 million in the January-September 2021 period.

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