The financial statements of the Saudi Industrial Services Company (SISCO) showed a decline in the company's profits last year by 58.5%, on an annual basis.
According to the company's results for the Saudi market (Tadawul), today, Wednesday, profits last year amounted to 57.9 million riyals, compared to 139.4 million riyals in profits in 2020.
The company said in a statement to the market that the decline in profits is due to the fact that the year 2020 included the company's net income, one-time gains, amortization of provisions and obligations, which had a positive impact on net income in the amount of 72.9 million riyals.
The company's revenues fell last year by 3.5% to reach 985.4 million riyals, compared to more than one billion riyals in the company's revenues achieved in 2020.
The company's board of directors recommended the distribution of cash dividends to shareholders, amounting to 32.64 million riyals, on 81.6 million shares, bringing the share of dividends to 0.4 riyals per share.
