According to the results of the company for the Saudi market (Tadawul), last year’s losses amounted to 96.72 million riyals, compared to 2018 losses of 39.73 million riyals.
The company said in a statement to the stock exchange that the reason for the increase in net loss during the comparison years is due to lower sales, an increase in general and administrative expenses, and an increase in financing expenses.
The company's total sales in the past year were 1.19 billion riyals, compared to 1.34 billion riyals in 2018, a decrease of 11.5%.
The company’s management has made an evaluation of the annual goodwill decrease of 323.58 million riyals as of December 31, 2019.
