Riyadh-Mubasher: Al Baha Investment and Development Company announced a net profit of SAR 1,400 for June 2016, raising its profits for the first five months of 2016 to SAR 14,940.
Al Baha’s accumulated losses has reached SAR 185.39 million by the end of June, representing 123.6% of the company’s capital, according to a filing to the Saudi Stock Exchange (Tadawul) on Monday.
The company’s paid up capital amounts to SAR 150 million, with 15 million issued shares and a par value of SAR 10 per share.
Al Baha's gross profit for June 2016 has reached SAR 47,200.
The extraordinary general meeting (EGM), decided on Sunday, 10 July, to continue with the company’s operations and not to liquidate the company before reaching its due date. The EGM also approved Al Baha’s financial statements and auditor’s report for the fiscal year ended 31 December 2015.
