Riyadh-Mubasher: National Metal Manufacturing and Casting Co. (Maadaniyah) suffered net losses of SAR 1.5 million in the fourth quarter of 2015, down 66% from SAR 4.3 million in Q4-14.
The company attributed the decline in losses to low cost of raw materials and fall in general and administrative expenses.
Maadaniyah posted net earnings of SAR 29 million for 2015, leaping 41% year-on-year from SAR 20.7 million, due to low cost of production as well as fall in general and administrative expenses.
