Riyadh – Mubasher: Zahrat Al Waha for Trading Company renewed its Islamic financing agreement valued at SAR 60 million from The Saudi National Bank (SNB) on 15 September 2024.
The facility, which is valid until 31 May 2025, is secured by order notes by the company, according to a bourse filing.
Zahrat Al Waha will use the investment for opening LCs for the purchase of raw materials.
In the first half (H1) of 2024, the Saudi company posted 77.80% lower net profits at SAR 2.16 million, compared to SAR 9.76 million in H1-23.
Earnings per share (EPS) dropped to SAR 0.10 in H1-24 from SAR 0.43 a year earlier, while the revenues fell by 8.07% to SAR 282.46 million from SAR 307.27 million.
