Riyadh – Mubasher: National Industrialisation Co. (Tasnee) on Monday reported a net loss of SAR 94.8 million ($25.28 million) in the first three months of 2015, registering a decline of 71.5% from losses incurred in the same period last year and amounting to SAR 332.5 million ($88.66 million).
According to the industrial firm’s filing to the Saudi Stock Exchange (Tadawul), the decline in losses was due to increased production and sales despite retreating average selling prices of most of the company’s products and increased financing costs, among other things.
