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Open
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Close
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Al Ahsa Development turns to profit in Q3

2018-10-25 07:34:18 GMT (Economies.com)
 

Al Ahsa Development Co. posted financial results for the third quarter of 2018, which showed net profit of SAR 2.53 million, against SAR 1.07 million net loss incurred in the same period a year ago.

 

The company ascribed the profitability to an increase in revenues and gross profit, coupled with lack of any losses from impairment of available-for-sale investments,  in addition to a decrease in Zakat provision.

 

The company recorded SAR 419,590 operating loss, compared with SAR 1.10 million in the same period a year ago.

 

Q3 total sales amounted to SAR 57.55 million, a rise of 7.3% from SAR 49.78 million reported in the same period a year ago.

 

Net profit for the first nine months of 2018 amounted to SAR 1.59 million, down 54% year-on-year from SAR 3.45 million.

 
 
 
  Symbol Last Change Chg.%
1.2164
-0.0010
0.0780%
1.4164
0.0028
0.2009%
Tadawul
10322.68
86.96
0.85%
27.541
-0.264
0.948%
65.121
-0.271
0.414%
68.35
0.03
0.04%
1835.200
-9.025
0.489%
 
 
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