Wafrah announces accumulated losses decrease to 16.29% of ‎capital

Reference to the announcement of Wafrah for industry and Development Co dated 14-08-2022 on its interim Financial Results for the period ending on 30-06-2022 (six months), Wafrah for Industry and Development Co. announces a decrease in its accumulated losses, as it was reduced from 30.77 % on 31-12-2021 to 16.29 % on 30-06-2022, as related to the paid up capital of the company which is 77,170,350 SAR.

It should be noted that the company achieved operating profit during the first half of the year 2022 amounting to 11,175,960 SAR due to higher average selling prices and due to reduction in unit cost of products that resulted from higher production rates.