The Clap
Fitaihi Group (4180) recorded a loss of SAR 17.2 million at the end of 2022, compared to a profit of SAR 149.6 million in 2021.
What
Fitaihi Group, which operates in the retail trade of jewelry and precious metals, stated that its loss in the past year is due to recording capital gains from selling a stake in a subsidiary for SAR 125.7 million in 2021, not to be repeated during 2022.
So What
The company also recorded capital gains from selling unused properties for SAR 13.8 million during 2021, not to be repeated in 2022.
Now What
Last year, the company saw an increase in its total sales profit amounting to SAR 19.4 million, compared to SAR 4.9 million in 2021.
