Riyadh – Mubasher: Solidarity Saudi Takaful on Thursday reported achieving a net profit of SAR 25.05 million, trimming its accumulated losses after the capital decrease.

The company attributed the offset of the accumulated losses on 8 March to the reduction of the capital to SAR 250 million, according to a bourse filing on Thursday.

The Saudi-listed firm noted that the capital cut had no impact on its financial obligations.

Solidarity Takaful achieved a net profit before zakat of SAR 3.61 million in February 2017, compared to SAR 4.73 million in January.