The financial statements of Takween Advanced Industries revealed the company's transformation into profitability by the end of the second quarter of this year compared to the losses for the same period in 2019.
According to the results of the company for the Saudi market (Tadawul) today, Wednesday, the profits for the period amounted to 10.032 million riyals, compared to losses for the second quarter of last year of 13.032 million riyals. p>
The company said in a statement to the Stock Exchange that the positive shift in the results during the comparison periods is due to the low cost of sales, low administrative and general expenses, and low financing expenses, despite the decrease Sales revenue, increase in selling and marketing expenses, and lower other income.
The company succeeded in reducing its losses in the first half of this year by about 65.8%, to reach 8.761 million riyals, compared to losses amounting to 25.58 million riyals in the same period last year. .
(Fun Knowledge of Knowledge)
