The financial statements of the Electrical Industries Company showed a positive shift in the results of the company during the first quarter of this year compared to the same period in 2019.
According to the results of the company for the Saudi market (Tadawul) yesterday, Tuesday, the profits for the period amounted to 848 thousand riyals, compared to the losses of the first quarter of 2019 amounting to 4.162 million riyals. p>
The company said in a statement to the Stock Exchange that the improvement in results during the comparison periods is due to the increase in sales from 106.2 million riyals to 139.5 million riyals during the comparison periods.
The company also attributed the improved results to a decrease in financial expenses from 3.3 million riyals to 2.1 million riyals, because of the low cost of financing.
