Riyadh-Mubasher: Saudi Industrial Export Company (SIEC) posted SAR 1.1 million in losses for the fourth quarter of 2015, compared with SAR 60,000 for the same period of the previous year.
Meanwhile, the company’s net profits stood at SAR 1.8 million in 2015, down 31% from SAR 2.6 million a year earlier.
The company attributed its losses in the fourth quarter of 2015 to the slowdown of the sales as well as the profits of the food products in local market due to the fierce competition.
