Riyadh-Mubasher: Saudi Industrial Export Co. (SIEC) said the cancellation of an exclusive agency agreement with Afia International Co. has a financial impact of SAR 1.3 million, according to the company’s filing to Tadawul.
This figure represents 17.8% of the company’s FY15 gross profits reaching SAR 7.3 million.
The company said Sunday Afia international cancelled an exclusive agency agreement with Shahd Al Sahara Trading, a subsidiary of SIEC, starting from 19 January.
