Zoujaj’s board recommends transfer of statutory reserve to retained earnings

18/11/2024 Argaam
Logo ofThe National Company for Glass Industries (Zoujaj)

Logo of The National Company for Glass Industries (Zoujaj) 

The National Company for Glass Industries’ (Zoujaj) board of directors recommended, on Nov. 18, to transfer the statutory reserve balance to the retained earnings.

 

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The company said in a statement on Tadawul that the statutory reserve balance totaled SAR 98.7 million as of the financial statements ended on Sept. 30, 2024.

 

According to data available on Argaam, Zoujaj’s profits rose to SAR 74.8 million by the end of the first nine months of 2024, compared to profits of SAR 21.7 million during the same period in 2023.

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