Wafrah posts 61% accumulated losses

This resulted from an increase in operational losses

Riyadh – Mubasher: Wafrah for Industry and Development Company announced that its accumulated losses reached SAR 121.28 million, which represents 61% of the company’s capital.

This resulted from an increase in operational losses to around SAR 81.9 million, coupled with a rise in provisions, according to the company’s statement to the Saudi Stock Exchange (Tadawul) on Wednesday.

Accordingly, the company’s board of directors will invite shareholders to an extraordinary general assembly meeting (EGM) to discuss the needed procedures.

Source: Mubasher

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