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الاقتصادية
Manufacturing's losses surge 733 percent
The National Industrial Company’s profits declined significantly during the second quarter of this year, recording losses of 548 million riyals, a 732.5% increase compared to the same period last year. The main reason for this was the decrease in sales volumes for most products, along with the company’s share of losses from joint ventures resulting from the expansion and maintenance of its projects, as well as operational challenges and supply chain issues. Additionally, losses from affiliated companies and a decline in the value of non-financial assets contributed to the worsening of losses, despite a 35% drop in revenues to 380 million riyals amidst rising selling prices. Last year, the company recorded losses of 1.8 billion riyals, affected by operational and financial challenges, as it continued its restructuring efforts to address its financial situation.
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