Abu Dhabi – Mubasher: Abu Dhabi National Company for Building Materials (Bildco) has logged accumulated losses of AED 242.23 million as of 31 December 2020, representing 80.7% of the capital.

The accumulated losses are mainly driven by the slowdown in the construction and real estate sectors, the decline in demand for building materials, and the coronavirus (COVID-19) economic repercussions, according to a bourse filing on Thursday.

To address these losses, the company has taken several measures, including amortization of these losses along with the capital and reducing the production costs.

Source: Mubasher

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