Saudi Industrial Development Company Records Losses of 39 Million Riyals at the End of 2022

The Saudi Industrial Development Company “Sadaq” recorded losses after calculating zakat and tax of about 39 million riyals during the year 2022 AD, compared to another loss of about 25 million riyals in the year 2021 AD, an increase of 58%, and this came after announcing the annual financial results that ended on the last day of The year is 2022.

According to the statement, which was published on the “Saudi Tadawul” platform, the operating loss amounted to about 42 million riyals during the past year, specifically at the end of 2022, compared to a loss of about 29 million riyals in the previous year, an increase of about 45%.

Loss after reviewing the financial statements

The loss per share this year amounted to about 0.97 riyals, compared to a loss of about 0.61 riyals in the previous year.

For its part, the Saudi Industrial Development Company stated that all the consolidated financial statements of the group for the year ending on December 31, 2021 AD were reviewed by another auditor, who stated his opinion after he had reservations about those consolidated financial statements in his report that he issued on Shaaban 28. 1443 AH corresponding to March 31, 2022 AD.