The losses of the National Company for Metal Manufacturing and Casting (Maadeniya) increased by 88% in the second quarter of 2020 to reach 7.7 million riyals, compared to losses of 4.1 million riyals in the same period From last year, compared to losses amounting to 7.46 million riyals, the previous quarter.
According to Arabiya Net, during the first six months of 2020, the company incurred losses amounting to 15.17 million riyals, compared to 4.29 million riyals losses, in the corresponding period of last year , An increase of 253.6%.
The company said that the reasons for the high losses during the current quarter compared to the same quarter of the previous year are due to the decrease in sales and the increase in selling and distribution expenses due to the work of a provision for doubtful debts in addition to a decrease In other income.
(Amazon fun knowledge)
