Riyadh - Mubasher: Malath Cooperative Insurance and Reinsurance reported a net profit of SAR 1.27 million ($338,000) in December 2016, while the company’s losses in 12 months totalled SAR 122.093 million ($32.566 million).
According to the company’s statement to the Saudi Stock Exchange (Tadawul) on Tuesday, operating profits reached SAR 710,000 in December, and totalled SAR 133.14 million in 2016.
The company added that accumulated losses decreased to SAR 184.9 million by the end of December, representing 61.67% of the company’s capital, compared to SAR 186.04 million in November, which represented 62.01% of the capital, which totalls SAR 300 million.
