Care International’s profits fell by 98.8% to 459 thousand riyals within a year

Care International Company’s profits declined in the fiscal year ending December 31, 2024, by 98.8% to 459.3 thousand riyals, compared to 37.9 million riyals in the previous year.

The company explained in a statement on its website "Saudi Arabia trading"Although the company made provisions within the audit work for the year 2024 and the comparative years, which included provisions for expected credit losses for receivables balances and contract asset balances, CARE International Company achieved an increase in profit margin and operating profits in addition to a decrease in net losses compared to the previous year.

This is due to the increased efficiency of managing electrical network projects.

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