SIDC reduces accumulated losses to 7% of capital

14/11/2024 Argaam
Logo ofSaudi Industrial Development Co. (SIDC)

Logo of Saudi Industrial Development Co. (SIDC)

Saudi Industrial Development Co. (SIDC) reduced its accumulated losses from 69.08% of its capital as of June 30 to 7% of its current capital as of Sept. 30.

 

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In a statement to Tadawul, the company said accumulated losses as of Sept. 30, 2024, amounted to SAR 9.45 million, representing 7% of its capital of SAR 135 million.

 

The decrease in accumulated losses was due to a capital reduction, which offset SAR 265 million in accumulated losses, the statement added.

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