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FINWIRES

Sarco's H1 Attributable Loss Narrows; Revenue Turns Positive

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Saudi Arabia Refineries Co. (SASE:2030), d/b/a Sarco, said Tuesday its loss for the first half narrowed year over year, while revenue returned to positive territory.

Net loss attributable to shareholders of the issuer for the six months ended June 30 was 5 million Saudi riyals, compared with an attributable loss of 23.7 million riyals a year ago. Loss per share moved to 0.33 riyal from 1.58 riyals.

The Saudi Arabia-based petroleum refining company's revenue was 1.3 million riyals, compared with a negative revenue of 15.6 million riyals a year ago.

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