Tasnee's Q1 losses due to hedging contracts: CEO

20/04/2015 ِArgaam
Hedging contracts at Saudi's National Industrialization Co. (Tasnee) have led to major losses for the company in first quarter, according to Multaq Al-Morished, chief executive officer.
 
Speaking during an interview with Al-Arabiya television, he added that the company is working to fix the issue, so that it does not affect financial results going forward.
 
Tasnee saw a substantial loss of SAR 332.5 million during the first three months of this year, compared to SAR 320.8 million in profit it achieved during the same period in 2014.

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