Riyadh – Mubasher: Bawan Company reported SAR 29.6 million in net profits after Zakat and tax during the third quarter (Q3) of the year, posting an annual jump of 806.7%.

The growing earnings were driven by higher gross profit due to a rise in revenue and profit margin, coupled with a decrease in financial expenses, according to a bourse disclosure on Wednesday.

Moreover, operating expenses, other income, and Zakat expense rose.

Revenues for the three-month period ended 30 September totalled SAR 548.5 million, up by 4.4% on a year-on-year (YoY) basis.

During the period from January to September, the profits recorded SAR 60.24 million, an increase of 182.4% when compared to SAR 21.33 million in the year-ago period.

Source: Mubasher

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