Riyadh – Mubasher: The Knowledge Economic City turned to a net loss of SAR 324 million over the second quarter (Q2) of 2020, against a net profit of SAR 5.48 million in the year-ago period.
The move to losses is due to disposal of a subsidiary during Q2-19, according to a stock exchange filing on Tuesday.
Revenue surged by 112.6% in the April-June period of the year to stand at SAR 58.99 million, compared with SAR 27.75 million in the same period a year ago.
In the January-June period, the company posted losses of SAR 7.08 million, against profits of SAR 25 million in H1-19.
