Riyadh – Mubasher: National Gypsum Company turned to profitability in the second quarter (Q2) of 2020, achieving SAR 5.18 million in net profit, against a net loss of SAR 1.89 million in Q2 of last year.
The growth in quarterly earnings is driven by a 42.65% surge in sales and an 18.78% drop in sales costs, according to a stock exchange filing on Monday.
Sales amounted to SAR 17.86 million in Q2-20, compared to SAR 12.52 million in Q2-19.
In the first half (H1) of 2020, the company earned profits of SAR 22.9 million, versus losses of SAR 5.39 million in the year-ago period.
