The Red Sea International Company incurred quarterly losses of 48.2 million riyals in the second quarter of 2022, compared to 29.9 million riyals in the corresponding period of 2021, a decrease of 61.2%.
According to Arabia Net, losses decreased on a quarterly basis by 152%, from 19.1 million riyals in the previous quarter.
The value of the company's losses in the first half of 2022 amounted to about 67.3 million riyals, compared to 62.9 million riyals in the first half of 2022, an increase in the value of losses by 7%.
The company said that the increase in net loss attributable to shareholders of the company during the second quarter is due to the decrease in revenues
