Better than Q1, but still fragile
Takween’s Q2 2016 sales witnessed a 15.3% yoy drop, at SAR403.968m, bringing the revenues recorded since the beginning of the year to SAR756.636m (-15.6% yoy). The cost of sales decreased by 18.5% yoy, to stand at SAR325.836. The gross margin moved from 16.17% in Q2 2015 to 19.3% in Q2 2016. However, the net result tumbled by 46.2%, amounting to only SAR15.074m.Takween Advanced Industries is engaged in the production of disposable polystyrene cups, lids and other plastic related products; production of non-woven plastics; and production of PET (Polyethylene Terephthalate) pre-forms.
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