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FINANCIAL NEWS
Saudi Solidarity records SAR3.6mn revenues in Feb
11 Mar 2017
(MENAFN) Solidarity Saudi Takaful posted a net profit before Zakat of USD963.0mn in Feb of the year, increasing its gain and trimming its accumulated losses.
Furthermore, the firm posted SAR4.733mn in Jan, while accumulated losses by the end of Feb amounted to SAR278.5mn, showing 50.2pct of the firm’s capital.
On the other hand, operating surplus reached SAR3.52mn last month.
The firm general meeting approved the decision to cut its capital to SAR250mn, bringing accumulated losses to make up 111.44pct of its new capital.
MENAFN1103201700450000ID1095305115
MENAFN1103201700450000ID1095305115
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