According to the company’s results for the Saudi market (Tadawul) today, last year’s losses reached 26.83 million riyals, compared to losses of 168.66 million riyals in 2018.

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The company said in the statement that the decrease in losses is due to the lack of incurring losses in the value of the subsidiary company (TSM Arabia), as well as the failure to register a provision this year in exchange for a contract Financial guarantee, and no impairment losses recorded in unit bending.

The company also reported the registration of tax benefits for the past year of 13.5 million riyals, compared to a Zakat and income tax charged amounted to (2.3) million riyals during 2018.

She noted that the results witnessed an improvement in the gross profit margin for the past year to reach 13.2 million riyals, compared to a gross loss margin of (2.1) million riyals in 2018. p>

Selling, marketing and distribution expenses decreased during the past year, to reach 14.1 million riyals, compared to 17 million riyals in 2018, a decrease of 17.1%.

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