The company said in a statement to the Saudi market today, Thursday, that the improvement in annual results is due to the increase in net sales for the past year compared to 2017 by 39.8% due to sales activation. p>
The company also attributed the shift to profitability last year, as a result of an increase in miscellaneous income (investment) by 34% compared to 2017.
The company explained that the decrease in the cost of sales in the past year contributed to the improvement of the results, due to the rationalization of industrial expenses and the modification of methods for calculating the depreciation of machinery and equipment in the manner of production units in accordance with the requirements of a standard International Accounting No. 16.
Al-Ahlia Gypsum indicated in the statement that the percentage of accumulated losses at the end of last year amounted to 2.63% of the capital.
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