Riyadh – Mubasher: Takween Advanced Industries on Tuesday reported a 1400% year-on-year loss hike during the first quarter of 2019, recording SAR 12.55 million.
The company ascribed the major growth in its loss to the decline in sales and the increase in both administrative and general expenses, according to a bourse statement.
Quarter-on-quarter, Takween’s loss dropped 70.3% in Q1-19, while accumulated loss reached SAR 229.53 million.
The Tadawul-listed firm posted a 76.38% year-on-year plunge in net loss for the full-year ended 31 December 2018, registering SAR 39.73 million.
