Riyadh – Mubasher: Takween Advanced Industries’ losses surged 111.2% to SAR 57.29 million in 2016 from SAR 27.12 million in 2015.

The hike in losses was attributed to higher general, administrative, and financial expenses, according to a bourse filing on Wednesday.

The initial financial statements earlier revealed that the company recorded losses of SAR 32.99 million in 2016 against SAR 27.12 million in 2015.