“Amianite” turned into profitability with 439.8 million riyals last year

The Saudi Arabite Company turned to profitability in the fiscal year 2024.
The company said in a statement to Saudi Arabia’s circulation, that the company achieved profits of 439.8 million riyals, compared to losses of 174.7 million riyals last year.
She added that the shift to profitability is due to: the company’s success in getting rid of 77% of its total bank obligations, which resulted in accounting profits.
The reasons included: the increase in revenues in the current year 2024 AD compared to revenues in the previous year by 18%.
The reasons included: a 60% decrease in financing costs in 2024 m compared to the previous year as a result of the company’s disposal of 77% of its total bank obligations.