Al Abdullatif Industrial’s Q2 profits jump 45%

Riyadh – Mubasher: Al Abdullatif Industrial Investment Company discloses its interim financial results for the second quarter of 2019.

Net profits after zakat and tax advanced by 45.07% to SAR 4.12 million during Q2-19, compared to SAR 2.84 million in Q2-18.

The company attributed the rise in profits to the sales increase and lower cost of materials.

Total revenues levelled up 11.1% to SAR 172.9 million during the three-month period ended in June, from SAR 155.6 million in the same period the year before.

For the first half of 2019, the net profits of the Saudi-based company fell by 25.64% to SAR 7.51 million, versus SAR 10.1 million in H1-18.

Meanwhile, revenues went up 7.07% year-on-year to SAR 341.75 million during the first six months of 2019.

Profit per share retreated to SAR 0.09 by the end of June, from SAR 0.12 in the same period of the prior year.

Mubasher Contribution Time: 01-Aug-2019 09:15 (GMT)
Mubasher Last Update Time: 01-Aug-2019 09:15 (GMT)