The Saudi Industrial Development Company recorded sincerely, a net loss after Zakar and tax of 10 million riyals during the first quarter of 2020.
According to Arabia Net, the company said in a statement that the reason is due to achieving net losses during the first quarter of 2020 compared to the same period in the previous year 2019 due to the high operational losses due to Lower sales, in addition to non-operating losses.
The company clarified in its statement that it is a reference to the case filed by the company, in which it requests a former partner in the subsidiary companies to pay compensation in exchange for violations and financial dues, issued by a decision of The Executive Court accepted compensation of the company with amounts equivalent to approximately (15,193,873) Saudi riyals.
