Riyadh – Mubasher: Saudi Advanced Industries Co. (SAIC) recorded net profits of SAR 2.15 million (573,000) in the fourth quarter of 2016, versus losses of SAR 15.2 million ($4.05 million) in Q4-15.
The company attributed Q4 profits to higher company's stake from associate companies and lower general and administrative expenses, other revenues, according to a bourse filing on Thursday.
The Saudi-listed company recorded profits of SAR 12.12 million in the twelve months of 2016 from SAR 1.18 million in the year-ago period.
