According to the company’s results for the Saudi market (Tadawul) today, last year’s profits reached 205.61 million riyals, compared to 2018’s profits of 161.19 million riyals.
The company said in the statement that the profits of last year are the highest in the history of the company, explaining that the growth of profits during the comparison periods is due to the increase in sales by about 16.9%, and the opening of several exhibitions During the year.
The Extra Board of Directors recommended the distribution of bonus shares to shareholders for the last year at 20% of the capital by one share for every 5 outstanding shares, and the total number of 10 million shares to rise Capital shares after the increase to 60 million shares.
The company explained that the value of the capital increase will be funded by capitalizing 100 million riyals from the retained earnings account and the statutory reserve of the company for the fiscal year ending on December 31, 2019. < / p>
