Arab News, Thursday, Sep 2, 2021 | Muharram 25, 1443
Tadawul’s biggest losers record up to 10 years without a profit
Saudi Arabia:
Two companies have not made a
quarterly profit in the past 10 years, according to fresh analysis of the Saudi
Stock Exchange by Argaam.
Saudi Fisheries Company and Atheeb Telecom both
made a loss in each of the 40 quarters that made up the study, which looked at
the companies who did not turn a profit for at least 60 percent of the period
under consideration.
Other names in the 10-year list include Zain
Telecom, Amana Insurance, and Tabuk Agricultural Development (Tadco).
Just creeping on to list was Naseej International
Trading, which operates in the carpet and rug sector, with only 25 of the past
40 quarters being loss-making.
Argaam also reviewed loss-making companies over
seven, five, and three years, using net loss before exceptional non-recurring
items as the comparative measure.
Companies included in each of the lists were
loss-making for at least 60 percent of the period under consideration.
Over seven years, both Saudi Fisheries and Atheeb
top the list again while Saudi Cable Company comes in third place with 26
quarters of losses.
Over five years, Tadco pushes Saudi Fisheries out
of the top slot, although neither made a profit over the 20 quarters. Third
place over five years is Atheeb.
Over three years, 40 companies failed to make a
profit for at least 40 percent of the 12 quarters analysed.
Naseej tops the list over three years, with Tadco
and Saudi Fisheries in second and third place, all three having failed to make a
profit over the time period.