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FINWIRES

Tasnee Swings to Q1 Loss; Revenue Declines

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-- National Industrialization Co. (SASE:2060), d/b/a Tasnee, said Sunday that it swung to an attributable loss for the first quarter, while revenue declined year over year.

Net loss attributable to shareholders of the issuer for the three months ended March 31 was 341.3 million Saudi riyals, compared with a profit of 895.8 million riyals earlier. Loss per share moved to 0.51 riyal from an EPS of 1.34 riyals.

The Tadawul-listed petrochemical company's revenue was 495 million riyals, compared with 648.2 million riyals a year ago.

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