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Takween turns to losses in Q1-17

Takween turns to losses in Q1-17
Photo Credit: Arabianeye-Reuters
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Riyadh - Mubasher: Takween Advanced Industries posted losses of SAR 8.91 million in the first quarter of the year compared to profits of SAR 1.88 million in the same period in 2016, as shown by the company’s financial results.

The company attributed turning to losses to the decline in sales revenues despite the increase in other income sources and the decrease in managerial and other costs, according to the company’s statement to the Saudi Stock Exchange (Tadawul) on Tuesday.