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Fitaihi says 2018 profits soar 1006% on lower expenses

2019-03-21 14:30:39 GMT (Economies.com)
 

Fitaihi Holding company on Thursday posted a 1006% increase in net profit for the fiscal year ended on December 31, 2018.

 

The company generated SAR 7.8 million net profit, compared with SAR 702,100 net profit a year earlier.

 

Fitaihi attributed the profit rise to lower sale and distribution expenses by 18%, as well as a decrease in general and administrative expenses by 23%.

 

Fitaihi earlier posted a 96.7% decline in loss for the third quarter of 2018 to SAR 154,400, from net loss of SAR 4.6 million in the same period a year ago.

 

Financial results for the first nine months of 2018 showed SAR 14.97 million profit, compared with SAR 20.4 million net profit in the corresponding period of 2017.

 
 
 
  Symbol Last Change Chg.%
1.2046
0.0020
0.1671%
1.3880
-0.0073
0.5239%
Tadawul
10127.90
18.31
0.18%
26.033
0.241
0.936%
62.045
-1.133
1.793%
65.91
0.51
0.78%
1782.045
10.595
0.598%
 
 
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