Cenomi Retail's accumulated losses contract to 10% of capital

Logo of Fawaz Abdulaziz Alhokair Co. (Cenomi Retail) 

Fawaz Abdulaziz Alhokair Co. (Cenomi Retail) narrowed its accumulated losses to 10% of its SAR 1.15 billion capital as of June 30, 2023, from 29.3% of capital as of March 31, 2023, according to a statement to Tadawul.

Accumulated losses amounted to SAR 292 million (25% of capital) as of June 1, 2023, shrinking to SAR 115 million (10% of capital) as of June 30, 2023, the company added.

The trimming of accumulated losses was due to logging SAR 77 million on a restatement impact as of Jan. 1, 2022, and generating SAR 112 million profit for the six-month period ended June 30, 2023.