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GO reveals accumulated losses exceeded SAR 180m

GO reveals accumulated losses exceeded SAR 180m
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ATHEEB TELECOM
7040
-0.93% 5.35 -0.05

Riyadh – Mubasher: Etihad Atheeb Telecommunication Company (GO) announced that accumulated losses amounted SAR 180.98 million.

The accumulated losses have now reached around 51.6% of the company’s capital, according to a statement to the Saudi Stock Exchange (Tadawul) on Sunday.

Go’s disclosure comes according to market rules as accumulated losses exceeded 50% of capital.

The telecom firm attributed the increase in accumulated losses to lower revenues, higher consumption expenses and other costs.