RIYADH: The Saudi Industrial Services Co. (SISCO), the Kingdom’s leading investor in ports and terminals, logistics parks and services and water solutions, posted a 30.1 percent year-on-year increase in its half-yearly revenue.
In a statement issued on Sunday, SISCO said its revenue for the first half of 2021, excluding accounting construction revenue, jumped to SR498.1 million ($133 million) and 13.4 percent to SR244.5 million in the second quarter driven by strong performance in the ports, logistics segments and slightly in the water business.
Gross profit of SR123.6 million increased by 6.6 percent from Q2 2020 predominantly driven by strong transshipment volumes in the ports segment. Gross profit decreased by 8.4 percent from the previous quarter due to a decline in gateway volumes and an increase in direct costs, it said.
