Riyadh –  Saudi Top Trading Company obtained a short-term Murabaha financing worth SAR 10 million from Saudi Export-Import Bank on 29 May.

The firm will use the proceeds of the loan to finance its working capital as well as the supply of inputs for the client export activities, according to a bourse disclosure.

The revolving facility, which is guaranteed by a promissory note, is valid for 120 days until 30 September 2023.

Last February, Saudi Top for Trading paid cash dividends to shareholders valued at SAR 14.40 million for 2022.

During the 12-month period that ended on 31 December 2022, the company’s net profits after Zakat and tax amounted to SAR 32.77 million, an annual hike of 91.72% from SAR 17.09 million.

Revenues declined by 2.73% to SAR 186.54 million last year from SAR 191.77 million in 2021.

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