Riyadh – Mubasher: Thoub Al Aseel Company posted a 361.7% surge in net profit for the fourth quarter (Q4) of last year, as shown by the company’s annual consolidated financial results for 2019.
Net profit amounted to SAR 10.62 million in Q4-19, compared with SAR 2.3 million for the same period in the year before.
For the entirety of 2019, the net profit after zakat and tax increased by 41.97% to SAR 80.37 million, up from SAR 56.61 million in 2018, according to a statement to the Saudi Stock Exchange (Tadawul) on Tuesday.
The company attributed the increase in net profit to a rise in sales.
Moreover, the board of Thoub Al Aseel has decided to distribute cash dividends to shareholders for the second half (H2) of 2019 at SAR 1.25 per share, representing 12.5% of the share’s par value, with a total amount of SAR 37.5 million.
