The financial statements of the National Industrialization Company showed that the company's losses in the first half of this year decreased by 75.4% compared to the same period of the previous year.
According to the company's results for the Saudi market (Tadawul) today, Thursday, losses for the period amounted to 265.3 million riyals, compared to losses for the first half of last year amounting to 1.08 billion riyals.
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The company said in a statement to the Stock Exchange that the decline in losses during the comparison periods is due to the decrease in financing costs, zakat provision and the increase in other revenues.
in addition to the non-monetary loss resulting from re-measurement and the profit from the sale of the Crystal business recorded in the same period of the previous year.
despite the negative impact of the decrease in average selling prices, the decrease in the company's share in the profits of associates and joint ventures, the increase in general and administrative expenses, and the decrease in the value of some non-current assets of the Metal Industries Complex SAIC (subsidiary).
The company recorded losses of 188.8 million riyals in the second quarter of this year, compared to profits of 212.1 million riyals for the same period last year.
(Amazon Fun Knowledge)
