Mubasher: National Cleaning Company has renewed KWD 38.8 million worth of cash and noncash credit facilities contracts with local banks.
The loans will finance municipality-related tender contracts that were previously announced as well as the company’s business activities, according to a bourse disclosure on Sunday.
The transaction’s material impact will partially reflect on the firm's interim consolidated financial statements starting as of the first quarter (Q1) ending on 31 March 2020.
It is worth noting that during the first nine months of 2019, the company’s profit grew by 31.8% to KWD 1.33 million when compared to KWD 1.01 million in the same period in 2018.
