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Baazeem halts setting aside retained earnings

Baazeem halts setting aside retained earnings
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BAAZEEM
4051
-0.65% 121.60 -0.80

Riyadh – Mubasher: The shareholders of Baazeem Trading Company decided to suspend the process of keeping aside 10% retained earnings to create statutory reserve.

The decision, which was taken on 16 September, was because Baazeem’s statutory reserve reached 30% of the capital, according to a bourse disclosure.

It is worth noting that the listed company posted a 5% decrease in net profits to SAR 14.69 million in the first half (H1) of 2021.