Tasnee likely to improve performance in Q3-15, says CEO
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National Industrialization Co. (Tasnee) should see its performance improve in the third quarter on higher sales and production following second-quarter results which were weakened by increased competition from China, the company’s chief executive Mutlaq Al Morished told CNBC Arabia.
It’s still too early to project actual estimates for Q3-2015 results, he said.
Saudi Arabia’s second-largest industrial company has since shifted its focus to manufacturing industries, he added.
Tasnee posted a net loss of SAR 440.2 million for the first half of 2015, marking a 160 percent decline when compared to its H1-2014 net profit of SAR 729.1 million.