According to the company’s results for the Saudi market (Tadawul) today, last year’s profits reached 32.88 million riyals, compared to 2018’s profits of 114.82 million riyals.
The company said in a statement to the stock exchange that the decline in profits during the comparison years is due to stopping the capitalization of the costs of two production lines in one of its subsidiaries (the Aja Factory for Pharmaceutical Industries) to enter the production stage.
The company also attributed the decrease in annual profits to an increase in selling, marketing, general and administrative expenses, as well as financing costs due to the company obtaining additional credit facilities and an increase in the provision for trade receivables and zakat. < / p>
The company achieved sales of 2.95 billion riyals last year, a slight increase of 0.21%.
