Farm Superstores Q3 profits decline 55%

Mubasher: Saudi Market Company, known as Farm Superstores Co, reported a decrease of 55% in profits during the third quarter of 2018 compared to the same period in the previous year.

Earnings shrank to SAR 3.24 million in Q3-18 from SAR 7.21 million in Q3-17, according to a bourse disclosure on Thursday.

The decline in Q3 profits is attributed to higher sales and distribution expenses in addition to general and administrative expenses at a total of SAR 9.2 million.

During the first nine months of 2018, Farm Superstores posted a decrease of 93% in profits to SAR 3.5 million from SAR 50.08 million in the same period in 2017.

Mubasher Contribution Time: 08-Nov-2018 14:55 (GMT)
Mubasher Last Update Time: 08-Nov-2018 14:56 (GMT)

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