Riyadh – Mubasher: Abdullah Saad Mohamed Abo Moati for Bookstores Company on Sunday reported an 8.45% year-on-year increase in its profits for the first quarter of 2018.
Net profits amounted to SAR 1.54 million in Q1-18, compared to SAR 1.42 in the same period of 2017, according to the company’s statement to the Saudi Stock Exchange (Tadawul).
Earnings per share (EPS) stood at SAR 0.1 during the three-month period ended 30 June, from SAR 0.09 in the same period of the prior year.
The company attributed the increase in profits to lower financing expenses over the first three months of its fiscal year, which starts on 1 April and ends on 31 March of the following year.
On a quarterly basis, Abo Moati for Bookstores fell 67.65% in Q1-18 from SAR 4.76 million in the fourth quarter ended 31 March.
It is worth noting that Abo Moati is a public company listed on the Saudi Parallel Market (NOMU) since February 2017.
By the end of Thursday’s session, Abo Moati’s stock declined 0.50% at SAR 9.95.