Riyadh – Mubasher: Etihad Atheeb Telecommunication Company (GO) on Thursday announced that its accumulated losses have fallen to 0% of the capital.
This comes after the company had generated other income from signing a settlement contract with one of its main suppliers as well as financing profits from deducting long-term trade payables, according to a bourse statement.
In addition, the firm's operating expenses and sales costs slumped.
On 7 February, GO revealed that the said settlement contract resulted in a positive initial financial impact of recording revenue of SAR 101.3 million.
