According to the company’s results for the Saudi market (Tadawul), last year’s losses amounted to 67.47 million riyals, compared to losses of 6.71 million riyals in 2018.
The company said in a statement to the stock exchange that the increase in losses during the comparison years is due to the fact that despite the apparent decrease in the company's operating losses in 2019 compared to the previous year, due to the lack of No operating income during this year.
However, the losses resulting from excluding the difference of the registered area from the company’s land from the accounts, after the issuance of the Ministry of Agriculture’s decision on January 1, 2020 and the company's management received this decision on February 2 The past, which includes the company's ownership of an area of 72.18 million square meters, which means excluding the area of 29.08 million square meters from the company's accounts with an estimated value of 63.37 million Saudi riyals.
which led to a noticeable increase in the rate of losses last year compared to 2018, knowing that the company entered the area difference losses in the lists of fiscal year 2019, knowing that the decision Issued in 2020 based on International Standard No. (10) - Events after the balance sheet date.
