Maadaniyah says COVID-19 measures affected sales, impact is 'dragging'

National Metal Manufacturing and Casting Co. (Maadaniyah) said that the government’s precautionary measures to contain coronavirus outbreak affected sales and will impact financial results.

The measures are still dragging on sales following the suspension of some local projects and exports not returning to normal levels with neighboring countries, the company said in a bourse statement on Tuesday.

Maadaniyah took necessary steps to protect employees and customers, as it reduced the number of workers in factories and offices, as well as reduced working hours.

Since June, the company gradually restarted activities, including production in factories and office work.

Any material development will be announced in due course, the statement noted

Earlier in April, the company said revenue will be impacted due to the precautionary measures to curb the COVID-19.