Bahr Al Arab Information Systems Company financial statements showed the company turning in losses at the end of the first quarter of this year compared to the same period in 2019.
According to the results of the company for the Saudi market (Tadawul) today, Thursday, the losses for the period amounted to 1.73 million riyals, compared to profits of 127.84 thousand riyals for the first quarter of last year.
The company said that the decline in results during the comparison periods is due to the decrease in the value of revenues to reach the end of the first quarter of this year to 6.46 million riyals, compared to 8.97 million riyals for the same period of 2019, down 28%.
The company explained that the decrease in revenues is due to the closure of many establishments and commercial activities in implementation of the precautionary measures and the preventive measures applied by the competent authorities to limit the spread of the new Corona virus ( Coffed 19).
