According to the results of the company for the Saudi market (Tadawul) today, Thursday, the losses for the period amounted to 28.825 million riyals, compared to losses of 47.152 million riyals in the first quarter of 2019. p>
The company said in a statement to the stock exchange that the decrease in losses during the comparison periods is due to the improvement in the gross profit margins in the air conditioning sector, and the improvement of the operating profit margins in the iron sector. p>
The company also attributed the decrease in losses to higher profits in associate companies as well as other income, lower financing costs, lower Zakat provision and income tax.
The company achieved revenues of 922.49 million riyals in the first quarter of this year, compared to 1.02 billion riyals in the same period of 2019, a decrease of 9.7%. p>
