‎“Cenomi Retail”: Accumulated losses decreased to 10% of ‎capital

Fawaz Abdulaziz Al Hokair and Partners Company (Cenomi Retail) announced a decrease in accumulated losses, from 29.3% as on March 31 to become 10.0% as on June 30 of the current capital of 1.14 billion riyals.

The company said in a statement today on “Tadawul” that the accumulated losses amounted to 292 million riyals (25% of the capital) as of January 1, 2023 AD, which decreased to 115 million riyals (10% of the capital) as of June 30, 2023 AD. ..

She explained that reducing the accumulated losses is due to following two things:

– 1 77 million riyals from the effect of restatement as of January 1, 2022 AD.

– Achieving profits of 112 million riyals for the 6-month period ending on June 30, 2023.

This comes with reference to the company’s announcement on August 8 of the preliminary financial results for the period ending on June 30 (6 months).