FINANCIAL NEWS

Saudi Tasnee records USD28.7m Loss in Q2

28 Jul 2015

(MENAFN) The Saudi Industrialization co. (Tasnee), said its net loss is attributed to high costs and low product sales prices, Arab News reported.

Tasnee suffered a net loss of USD28.7 million in the second quarter, Compared to a profit of USD108.8 million in the same quarter in 2014.

“Its estimated that Tasnee would make a quarterly profit of USD25.7 million.” Analysts reported.

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