Sadr Logistics (SASE:1832) reported a narrower full-year 2024 net loss alongside an increase in annual revenue, reflecting improved operational performance.
Financial Highlights:
- Net loss for the year ended Dec. 31, 2024, was 3.8 million Saudi riyals, compared to 4.2 million riyals in 2023.
- Loss per share remained unchanged at 0.02 riyal.
- Revenue climbed to 111.9 million riyals, up from 104 million riyals a year ago, marking a 7.6% year-over-year increase.
Strengthening Revenue Despite Continued Losses
The Saudi Arabia-based logistics company demonstrated revenue growth, driven by higher demand for its services and possibly improved contract volumes. While the company continues to report losses, the reduction in net loss signals progress toward financial stability.
Outlook: Progress Toward Profitability
Sadr Logistics’ increasing revenue and shrinking losses suggest that operational improvements and potential cost efficiencies are beginning to take effect. The company’s stable loss per share indicates that shareholder impact remained consistent despite ongoing financial challenges.
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