Riyadh – Mubasher: National Gypsum Company has secured a SAR 35 million financing agreement from Riyad Bank, according to a bourse disclosure.
The company will use the loan to finance the expansion of operations to develop production lines in the factories.
The facility holds a tenor of one and a half years from the date of financing of 5 January 2025. It is secured by a promissory note and mortgage of the property.
In the nine-month period that ended on 30 September 2024, National Gypsum turned to net losses valued at SAR 8.16 million, against net profits worth SAR 11.12 million a year earlier.
Revenues hiked by 22.24% year-on-year (YoY) to SAR 50 million in the first nine months (9M) of 2024 from SAR 40.90 million.
