Riyadh – Mubasher: Al Hassan Ghazi Ibrahim Shaker Company (Shaker) on Tuesday unveiled that its losses hiked 38% year-on-year for the first quarter of 2018.
Net loss amounted to SAR 20.55 million in Q1-18, compared to SAR 14.89 million in Q1-17, according to the company’s statement to the Saudi Stock Exchange (Tadawul).
The Tadawul-listed company attributed the losses to a 25.5% decrease in sales.
Shaker’s revenues slid 25.5% to SAR 214.8 million for the first three months of 2018, versus SAR 288.3 million for the same period of the prior year.
For the full-year 2017, Shaker turned to loss, posting SAR 171.04 million, compared to SAR 48.82 million in the year before.
By the end of Monday’s session, Shaker’s stock retreated 1% at SAR 10.61.
