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"Iraqi Dates" turn to profitability in the third quarter
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The financial results of the Iraqi Company for the manufacture and marketing of dates on Wednesday showed a shift in profitability during the third quarter ended May 31, 2018.
The company said in a statement to the bourse, read by the "economy News", it has "a profit of 148.26 million dinars, compared to losses of 241.91 million dinars in the third quarter ended May 31, 2017."
The company said that "revenues of the current activity, increased during the third quarter ended May 31, 0.29%, to 1.63 billion dinars, compared to 1.625 billion dinars in the same period of the previous fiscal year."
The Iraqi General Assembly for the manufacture and marketing of dates during the current week, to raise the minimum wage to 350 thousand dinars, and modify the grades approved by the company.
The company agreed in February to write off the accumulated losses of KD 112 million from the company's accumulated surplus account.
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