Al-Baha posts 66% rise in Q3 profits

The company reported a 65.95% increase in profits

Riyadh – Mubasher:Al-Baha Investment and Development Company posted a correction to its financial results for the nine-month period ended 30 September 2019, regarding operational profits.

The company reported a 65.95% increase in profits during the third quarter (Q3) of the year to SAR 1.73 million, with revenues rising by 23.9% year-on-year (YoY) to SAR 2.8 million.

In Q3-19, operational profit amounted to SAR 845,183, according to a company statement to the Saudi Stock Exchange (Tadawul) on Wednesday.

As for the first nine months of the year, profit grew by 11.5% YoY to SAR 4.5 million.

Revenues amounted to SAR 7.7 million, decreasing by 5.88% YoY, compared with about SAR 8.2 million for the same period a year ago.

During the nine-month period, operational profit amounted to SAR 753,922.

Source: Mubasher

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