Riyadh – Mubasher: Saudi Amiantit Group’s loss after Zakat and tax went up to SAR 262.03 million in the second quarter of 2019, compared to SAR 53.65 million in the year-ago period.
The company ascribed the increase in its loss to incurring an unexpected cost of SAR 78.1 million, in addition to impairment of fixed assets, under IAS 36 “Impairment of Assets”, for 3 local Cash generating Units, amounting to SAR. 125.73 million, according to a bourse statement.
In the first six months of 2019, Amiantit’s loss after Zakat and tax rose to SAR 303.36 million, against SAR 92.44 million the year before.
Accumulated loss accounted for 70% of the Tadawul-listed capital, or SAR 810.5 million.
