50.9000
Change
-0.1000
Change %
0.1961%
Open
51.0000
Close
51.0000
High
51.6000
Low
50.4000

SAIC profits rises 21% in 2018 on stronger revenues

2019-03-12 13:03:45 GMT (Economies.com)
 

Saudi Advanced Industries Co. (SAIC) on Tuesday posted a 21% rise in net profit for the fiscal year ended on December 31, 2018, to SAR 37 million, from SAR 30.6 million reporter a year earlier, according to a bourse statement.

 

FY18 operating profit amounted to SAR 38 million, up from SAR 28 million.

 

The company ascribed the profit increase to a rise in revenues dues to an increase in its share in profits of sister companies, coupled with a decrease in financing costs.

 

SAIC earlier posted SAR 12.3 million net profit for the third quarter of 2018, compared with SAR 9.8 million in prior-year period. It also recorded SAR 31.1 million net profit in the first nine months of 2018, a rise of 49.4% year-on-year from SAR 20.8 million.

 
 
 
  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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