Saudi Kayan suffered a quarterly loss in the first quarter of this year in the amount of 197.5 million riyals ($ 52.7 million); compared to the profits for the same period of last year with a value of 462.6 million Real.

The company said in a statement to the Saudi market today, Monday, that the net quarterly loss is due to the lower average selling prices of most products in addition to the high costs of financing.

She added that the quarterly losses in the first quarter of 2019 were achieved despite the improvement in the operating performance of the company's factories and an increase in the quantities produced and sold and a decrease in general and administrative expenses.

The results showed sales and revenues fell by about 7% during the first quarter of this year to reach 2.54 billion riyals, compared to 2.73 billion riyals in the same quarter of 2018. p>

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