Riyadh – Mubasher: Saudi Ceramic Company’s net earnings dropped by 5.9% yearly during the third quarter (Q3) of 2020, hitting SAR 32.461 million from SAR 34.494 million in the year-ago quarter.
Revenues totalled SAR 373.1 million in the July-September period, posting a 27.9% annual increase, according to a bourse disclosure on Thursday.
During Q3-20, the company posted lower general and administrative expenses and financing costs, and higher selling and marketing expenses. The firm’s revenues and gross profit margin improved when compared to the same period in 2019.
In the January-September period, the company turned to net profits of SAR 49.7 million, against net losses of SAR 6.66 million.
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