The losses of the Arab Sea Company for Information Systems decreased by 79.5% to record 0.35 million riyals in the first quarter of 2021, compared with losses of about 1.73 million riyals in the same quarter of 2020.
According to Arab Net, the company said in a statement that the decline of losses returned to higher revenue in the first quarter of 2021, compared to the same quarter of 2020, recorded SR 8.87 million.
The company added that losses were also fell due to the decline in total public and sales in the first quarter of 2021, with 59.08% compared to the same quarter of 2020, as well as low zakat expenses by 87%.
The Arab Sea has been a loss of SR 15.88 million in 2021, compared to a net profit of SAR 24.15 million.
