Bawan turns to profit in Q3 2019

Operating profit surged

Riyadh – Mubasher:Bawan Company has turned to profit during the third quarter of 2019.

The company recorded a net profit after zakat and tax of SAR 3.6 million in Q3-19, according to a bourse statement released on Tuesday.

Operating profit surged 145.78% year-on-year to SAR 12.34 million from July to September 2019.

Meanwhile, the company’s revenue grew by 18.43% to SAR 525.6 million in Q3-19, from SAR 443.81 million in the year-ago period.

In the first nine months of 2019, Bawan’s net profit after zakat and tax soared 85.7% year-on-year to SAR 21.3 million.

Revenue increased by 14.6% to SAR 1.64 billion in the January-September period, compared to SAR 1.43 billion the year before.

It is worth noting that the Tadawul-listed company’s net profits after zakat and tax hiked 89.3% to SAR 3.02 million in Q2-19, from SAR 1.5 million in Q2-18.

Source: Mubasher

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