According to the company’s results for the Saudi market (Tadawul) yesterday, last year’s profits reached 1.47 billion riyals, compared to profits of 1.74 billion riyals in 2018. >
The company said that the decrease in profits during the comparison years is due to the decrease in the quantities sold and the average selling prices of the company's products.
She explained that this decrease was limited by the effect of reducing the zakat provision during 2019 as a result of the company receiving an adjusted zakat for previous years until the fiscal year 2017.
As of January 1, 2019, the company has adopted and applied international standard No. (16) for lease contracts, which did not have any material impact on the company's financial statements. < / p>
