Saudi Paper cuts accumulated losses to 8.6% of capital

04/10/2018 Argaam

 

Saudi Paper Manufacturing Co. (SPMC) reported SAR 21.1 million in accumulated losses, accounting for 8.6 percent of its capital as of Sept. 10, 2018, the company said in a statement to Tadawul on Thursday. 

 

These losses were reduced, as the company cut its capital to SAR 245 million from SAR 450 million.

 

The capital cut is unlikely to impact the company’s financial obligations, the statement added.

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