Riyadh – Mubasher: The National Company for Glass Industries (Zoujaj) achieved a net profit of SAR 2.1 million in 2020, against a net loss of SAR 31.3 million in 2019, according to the company’s annual financial results.
Zoujaj posted a profit per share of SAR 0.06, versus losses per share of SAR 0.95 in 2019, according to the company’s statement to the Saudi Stock Exchange (Tadawul) on Sunday.
The company attributed achieving profits to the three main reasons, the reversal of a SAR 10.7 million provision related to the Saudi National Lamps and Electricals company Limited (SANLEC), lower expenses due to the permanent closure of the Dammam Factory for Glass Bottles in the previous year, and writing off a non-routine loan of SAR 20.4 million with SANLEC.
