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Al-Babtain posts 53% decline in 2018 profits

2019-03-21 14:26:49 GMT (Economies.com)
 

Al-Babtain Power & Telecommunication Co. on Thursday said it generated SAR 69.7 million net profit for the fiscal year 2018, down 52.6% year-on-year from SAR 147.2 million, according to a bourse statement.  

 

FY18 net operating profit amounted to SAR 52.4 million, compared to SAR 142.2 million a year earlier.

 

The company attributed the profit decline to a decrease in sales by 15.1% and due to fierce competition.  

 

The company’s financial results earlier showed a net profit of SAR 49 million for the first nine months of 2018, compared to a net profit of SAR 110.3 million in the corresponding period of 2017.

 
 
 
  Symbol Last Change Chg.%
1.1606
0.0036
0.3139%
1.3751
0.0123
0.9053%
Tadawul
11773.36
25.09
0.21%
23.335
0.700
3.090%
82.022
0.902
1.112%
84.86
0.86
1.02%
1767.855
13.150
0.749%
 
 
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