The turn to profits in Q4-20 was supported by a significant improvement in gross profit as a result of the lower cost of sales, according to a bourse statement on Tuesday.
Meanwhile, selling and distribution expenses, administrative expenses, and Zakat provision slumped.
The company’s revenue reached SAR 119.25 million in Q4-20, a yearly drop of 7.1%.
In 2020, the Tadawul-listed firm turned to a net profit of SAR 15.1 million, against a net loss of SAR 27.88 million a year earlier.
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