Petro Rabigh says accumulated losses decrease to 16.23% of capital

28/07/2021 Argaam

Logo of Petro Rabigh

Rabigh Refining and Petrochemical Co. (Petro Rabigh) said its accumulated losses fell to SAR 1.42 billion from SAR 8.76 billion as of June 30, 2021, representing 16.23% of capital.

 

The company said in a bourse statement that this is due to the stable operation, together with improvement in market conditions and gradual recovery of the global economy from the impact of COVID-19.

 

According to data compiled by Argaam, Petro Rabigh swung to a net profit after Zakat and tax of SAR 1.366 billion for the first half of 2021, against a net loss of SAR 3.232 billion in prior-year period.

 

To view the chartered accountant report, please refer to the attachment below:

The chartered accountant report

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