RIYADH: Saudi Arabian Amiantit Co.’s stock retreated after it reported its half-year losses shrank by 83 percent on Sunday, bolstered by continued sales growth. Losses during the first half of 2022 went down to SR10 million ($2.7 million), from SR60 million in the same period last year, according to a bourse filing. At Sunday’s closing bell, the company’s share price was down 2.14 percent to SR41.2, compared to SR42.1 at the previous close. The company attributed the improved performance to an increase of SR15.5 million, or 7 percent, in revenues to SR241 million on the back of pandemic recovery. Amiantit separately announced that its half-owned unit Tawezea Co. was awarded a SR400 million contract, along with a consortium of Aqualia Spain Co. and Alhaj Abdullah Ali Riza Co. The purpose of the seven-year deal is to provide water and environmental treatment services in the northern sector, serving four regions in the Kingdom.