Riyadh – Mubasher: Saudi Arabia-based Al Omran Industrial and Trading Company on Wednesday reported a 43.48% year-on-year decrease in profits of the second quarter of 2018.
The firm’s profits amounted to SAR 2.96 million during Q2-18, compared to SAR 5.2 million in Q2-17, according to a statement to the Saudi Stock Exchange (Tadawul).
Quarter-on-quarter, profits levelled up 74.13% during the period between April and June, from SAR 1.7 million.
The Saudi firm attributed the second-quarter profit decline to a drop in sales.
During the first six months of 2018, Al Omran Industrial and Trading’s profits fell 38.08%, to SAR 4.65 million, from SAR 7.5 million in H1-17.
