SISCO profit down 69% on ports and water sector revenue drop 

RIYADH: Saudi Industrial Services Co., known as SISCO, posted a 69 percent drop in profit for the first nine months of 2022 as a result of ports and water sector revenues drop. 

Profits of SISCO, which is a strategic investor in ports, terminals and logistics parks, have dropped to SR18.3 million ($4.9 million), down from SR58.7 million, according to a bourse filing.  

The drop was attributed to a decline in the ports segments revenues during the first half of 2022, as well as the decrease in water segment revenues due to an unplanned plant shutdown.