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Zamil Industrial’s accumulated losses down 5.5% of capital

Zamil Industrial’s accumulated losses down 5.5% of capital
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Riyadh – Mubasher: Zamil Industrial Investment Company reported accumulated losses amounting to SAR 33.16 million as of 30 September 2023, accounting for 5.53% of the SAR 600 million capital.

Zamil Industrial incurred lower accumulated losses, compared to SAR 169.25 million at the end of June 2023, which represented 28.20% of share capital, according to a bourse statement.

The company used a partition of the SAR 180 million statutory reserves, against its accumulated losses of SAR 169.25 million, equivalent to 28.20% of the capital.

In the first nine months (9M) of 2023, Zamil Industrial suffered net losses after Zakat and tax amounting to SAR 231.07 million, higher by 194.44% than SAR 78.47 million in 9M-22.

Loss per share increased to SAR 3.85 in 9M-23 from SAR 1.35 a year earlier, while the revenues jumped by 18.33% to SAR 3.39 billion from SAR 2.86 billion.