“Jana Medical” announces that its accumulated losses reach 40.55% of the capital

Jana Medical Company announced that its accumulated losses reached 13.029 million riyals, with 40.55% of its capital, based on the annual financial results of the fiscal year 2024 AD, which was closed on December 31, 2024 AD, corresponding to 30 Jumad, the other 1446 AH.
The company said in a statement on Saudi Arabia’s circulation: The main reasons that led to the achievement of these losses:
1- The high credit losses.
2- Add a dedicated to issues.
3- High financing costs.
She explained that the measures that the company will take regarding these losses:
1- Increasing the volume of sales by the company’s endeavor to raise the level of sales as one of the main solutions to reduce the accumulated losses, by enhancing the effectiveness of marketing activities, improving customer experience, and expanding the scope of distribution.
According to the company, this trend would contribute to increasing operational revenues and achieving the optimal benefit from the available productive energies, which reflects positively on the company’s financial results and enhances its ability to reduce the rate of losses to capital.
2- Reducing expenses through a comprehensive review of operational and administrative items, the company seeks to reduce unnecessary expenses and improve operation efficiency.
3- Increasing the number of medical devices agencies by increasing the number of exclusive agencies, which allows the company to reach new and innovative products, which enhances competitiveness in the market and provides opportunities to achieve higher sales.
According to the company, this helps to diversify the sources of income and reduce dependence on a limited number of suppliers or products.
4- Evaluating the financing situation and liquidity of the company to determine the company’s ability to fulfill its obligations when it is entitled, and to review and approve the company’s work plan for the next five years, including cash flows and future predictions.
5- Activating the ODoo ERP program by ending the training of employees on it and activating it completely during the second quarter of 2025, to raise the operation and quality efficiency and also the digital transformation of the operation, which will contribute to increasing the sale and reduce operating costs.
She noted the implementation of the procedures and instructions related to the listed companies, their shares in the Saudi financial market, whose accumulated losses amounted to 20% or more of their capital.