11 June 1998: The National Glass Industries Company (Zoujaj) of Saudi Arabia in the first three months of the year 1998 reported a loss of SR 10.9 million, up from a loss of SR 0.9 million in the comp…
11 June 1998: The National Glass Industries Company (Zoujaj) of Saudi Arabia in the first three months of the year 1998 reported a loss of SR 10.9 million, up from a loss of SR 0.9 million in the comparable period of 1997. According to the company“s unaudited financial statement for the first quarter of the year, operational loss was SR 5.2 million, down from SR 5.9 million in the comparable quarter of last year. Administrative and general expenditures amounted to SR 3.5 million while the company“s share in losses of its investments reached SR 1.8 million. Shareholders“ equity in the quarter in question dropped to SR 197.9 million from SR 222.8 million in the comparable quarter of 1997. The equity consisted of SR 200 million as paid up capital, SR 7.8 million as statutory reserve and SR 0.9 million as retained profits less SR 10.9 million being the period loss. Both assets and liabilities of Zoujaj as on 31 March 1998 were balanced at SR 298.2 million, down from SR 316.3 million on the corresponding date of 1997.