Riyadh – Mubasher: Sumou Real Estate Company has early settled a loan it had obtained from a local bank worth SAR 110 million.
This settlement will contribute to lowering financing expenses, positively reflecting on the company's financial results starting as of the first half (H1) of 2021, according to a bourse statement on Tuesday.
During the first half (H1) of 2020, the real estate developer logged net profits after Zakat and tax of SAR 36.04 million, 18.73% more than SAR 30.36 million recorded in the same period in 2019.
Source: Mubasher
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