Wafrah cuts accumulated losses to 16.3% of capital

18/08/2022 Argaam

Logo of Wafrah for Industry and Development Co.

Wafrah for Industry and Development Co. cut accumulated losses from 30.77% as of Dec. 31, 2021, to 16.29% of the paid-up capital, amounting to SAR 77.17 million, as of June 30, 2022, according to a bourse filing.

 

Wafrah’s accumulated losses stood at SAR 12.57 million.

 

In H1 2022, Wafrah reported an operating profit of SAR 11.18 million due to higher average selling prices and lower unit cost of products that resulted from higher production rates.

 

Click to review the auditor’s report after decrease in accumulated losses:

Wafrah - The Auditor’s Report

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