10 September 1998: The National Glass Industries Company (Zoujaj) of Saudi Arabia in the first half of 1998 incurred a loss of SR 20.4 million, up from a loss of SR 1.1 million in the comparable perio…
10 September 1998: The National Glass Industries Company (Zoujaj) of Saudi Arabia in the first half of 1998 incurred a loss of SR 20.4 million, up from a loss of SR 1.1 million in the comparable period of 1997. According to Zoujaj“s unaudited financial statement for the first six months of the year, the company incurred an operational loss of SR 7.77 million compared to an operational profit of SR 10.8 million in the same period of a year earlier. Shareholders“ equity at the end of the first six months of the year stood at SR 188.3 million, down from SR 222.6 million in the same period of a year earlier. The equity consisted of SR 200 million as capital, and SR 7.8 million as statutory reserve less SR 20.4 million being the period loss. Both assets and liabilities of Zoujaj as of 30 June, 1998 were balanced at SR 292.3 million, down from SR 304.4 million on the corresponding date of 1997.