The financial statements of the Red Sea International Company showed an increase in the company's losses in the first half of this year by 15.2% compared to the results of the same period last year.
According to the company's results for the Saudi market (Tadawul) today, Tuesday, losses for the period amounted to 52.4 million riyals 1, compared to losses for the same period in 2019 of 45.5 million riyals.
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The company said in a statement to the Stock Exchange that the high losses during the comparison periods are due to the low profit margin due to the repercussions of the emerging corona virus (Covid 19).
The company recorded losses of 27.3 million riyals in the second quarter of this year, compared to losses amounting to 27.5 million riyals for the same period in 2019, a slight decrease of 0.73% .
(Amazon Fun Knowledge)
