Riyadh – Mubasher: The net losses of the National Company for Glass Industries (Zoujaj) leapt by 621.43% on a yearly basis over the second quarter (Q2) of 2020, reaching SAR 10.1 million from SAR 1.4 million in Q2-19.
Sales came in at SAR 19 million during the period ended 30 June this year, 6.9% lower than SAR 20.4 million logged in the corresponding period in 2019, according to a bourse filing on Tuesday.
The higher losses in Q2-20 resulted from a decline in operating profits for glass containers as sales slumped due to the impact of the precautionary measurements taken against the COVID-19 widespread.
Additionally, Zoujaj had a lower share of results from sister companies operating in float glass activity due to the above-mentioned reasons.
