Money and business
“Apico” profits increased 2.7% to 13.38 million riyals in 2024
The profits of the Arab Plastic Industry Company (APICO) increased in 2024 by 2.7% to 13.38 million riyals, compared to 13 million riyals in 2023.
According to the company’s statement on Saudi Arabia’s circulation, this is mainly due to the increase in the total profit of 4.6 million riyals, but this increase was affected by:-
1 -The expected high credit losses to cover future risks in the city’s receivables.
2 -A rise in consumption expenses due to the formalization of the Abiko Al -Kharj factory.
3 -High financing costs.
According to the company’s statement on Saudi Arabia’s circulation, this is mainly due to the increase in the total profit of 4.6 million riyals, but this increase was affected by:-
1 -The expected high credit losses to cover future risks in the city’s receivables.
2 -A rise in consumption expenses due to the formalization of the Abiko Al -Kharj factory.
3 -High financing costs.
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