The company said in a statement to the Saudi market, that the decrease in annual profits is mainly due to the decrease in sales of explosives with a higher return, despite the growth in sales of medicines with lower returns.
She explained that the decrease in profits is also due to the increase in operating expenses (for the pharmaceutical sector due to the increase in sales) and also to the increase in financing expenses for Islamic murabaha.
The company’s board of directors, which was held yesterday, Wednesday, recommended increasing the company’s capital by granting bonus shares to shareholders by 33.33%, raising the capital from 632.4 million riyals to 843.2 million riyals .
The company indicated in the statement that the aim of increasing the capital is to support and strengthen the capital base and future activities of the company.
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