Tasnee's restructuring activities led to cost increases and one-off charges
The CEO of National Industrialization Company (Tasnee), Mutlaq Al Morished, stated that the company went through restructuring activities during 2015, which resulted in the layoff of some of its employees across the globe and led SG&A expenses to increase. He further added that the company's sales volumes were actually up 3% Y-o-Y, despite the lower prices, while losses incurred during the year were due to many one-offs. (Argaam)
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