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Tasnee Swings to H1 Loss; Revenue Down

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National Industrialization Co. (SASE:2060), d/b/a Tasnee, said Sunday that it swung to a loss in the first half, while revenue decreased year over year.

Loss attributable to shareholders of the issuer for the six months ended June 30 was 889.1 million Saudi riyals, compared with a net profit of 830 million riyals earlier. Loss per share moved to 1.34 riyals from an EPS of 1.24 riyals.

The Tadawul-listed petrochemical company's revenue was 875 million riyals, compared with 1.23 billion riyals a year ago.

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