Riyadh – Mubasher: The initial financial statements of Etihad Atheeb Telecommunication Company (GO) showed a negative turn during the six months ended 30 September 2018 when compared to the corresponding period a year earlier.
Go suffered a net loss, after zakat and tax, standing at SAR 35.54 million in the six-month period in 2018 against net profits valued at SAR 25.61 million in the same half a year ago, according to a recent bourse disclosure.
During the three-month period ended on 30 September 2018, GO posted a year-on-year decrease of 54.142% in net losses, after zakat and tax, to SAR 13.67 million from SAR 29.81 million.
As on 30 September 2018, the accumulated losses reached SAR 233.59 million, representing 49.44% of the capital.
It is worth noting that GO’s fiscal year ends on 31 March each year.
