Wafrah says disclosed accumulated losses preliminary, still under scrutiny

27/02/2020 Argaam

 

Wafrah for Industry and Development Co. announced that the disclosed data on its accumulated losses are preliminary, as the financial statements for fiscal year 2019 are unaudited and still under scrutiny by an external auditor.

 

The company said in a bourse filing that the amount and final ratio of accumulated losses will be announced in the audited annual financial statements.

 

According to data compiled by Argaam, Wafrah said its accumulated losses reached 61% of the capital as of Feb. 26, 2020, amounting to SAR 121.28 million.

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