Riyadh – Mubasher: Saudi Arabia Refineries Company’s (SARCO
) net profits decreased by 30.55% in the second quarter (Q2) of 2020, reaching SAR 7.103 million, compared with SAR 10.227 million in the same period in 2019.
The lower quarterly earnings are due to a decline in the dividends paid by the Saudi Industrial Investment Group Company, an investor company, for the first half (H1) of 2020 by SAR 7.597 million, according to a bourse filing on Sunday.
Revenue stood at SAR 7.485 million during the period ended 30 June 2020, a drop of 31% when compared to SAR 10.849 million in the year-ago period.
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