Saudi: SISCO logs nearly $10mln profits in 2022

Riyadh – The net profits after Zakat and tax of Saudi Industrial Services Company (SISCO) plunged by 36.61% to SAR 36.70 million in 2022, versus SAR 57.90 million.

SISCO generated revenues worth SAR 993.80 million in 2022, up 0.85% year-on-year (YoY) from SAR 985.40 million, according to the annual income statements.

Earnings per share (EPS) hit SAR 0.45 as of 31 December 2022, lower than SAR 0.71 in 2021.

In the first nine months (9M) of 2022, the Tadawul-listed firm achieved net profits after Zakat and tax worth SAR 18.30 million, an annual drop of 68.82% from SAR 58.70 million.

Revenues decreased by 2.28% to SAR 717 million in 9M-22 from SAR 733.70 million in 9M-21, while the EPS plummeted to SAR 0.22 from SAR 0.72.

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