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Wafrah FY18 losses shrink 47% on strong sales

2019-03-27 15:35:09 GMT (Economies.com)
 

Wafrah for Industry and Development Co. on Wednesday released its financial results for the fiscal year 2018, showing an decrease in losses by 47.1% to SAR 26.5 million, compared to a net loss of SAR 50.1 million in the corresponding period of 2017.

 

FY18 net operating loss amounted to SAR 13.5 million, compared with SAR 41 million net operating loss.

 

The company said the fall in losses was due to the a rise in sales by 31.72%, coupled with an increase in average sale prices.

 

FY18 revenues rose to SAR 80.1 million during FY18, compared to revenues of SAR 60.8 million in the year ago period.

 

The company's losses narrowed to SAR 8.7 million during the nine months ended September 30, 2018, compared to a net loss of SAR 13.7 million in the year-ago period.

 
 
 
  Symbol Last Change Chg.%
1.1606
0.0036
0.3139%
1.3751
0.0123
0.9053%
Tadawul
11773.36
25.09
0.21%
23.335
0.700
3.090%
82.022
0.902
1.112%
84.86
0.86
1.02%
1767.855
13.150
0.749%
 
 
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