SPIMACO swings to profits in Q3

Revenues of the Saudi firm grew by 24.5%


Riyadh – Mubasher: Medical Appliances Corp. (SPIMACO) turned profitable during the third quarter of 2019, achieving SAR 30.06 million in profits, against losses of SAR 3.43 in Q3-18.

Revenues of the Saudi firm grew by 24.5% to SAR 280.21 million in Q3-19, compared to SAR 224.95 million in Q3-18, according to a bourse filing on Monday.

For the first nine months of 2019, SPIMACO suffered SAR 177.72 million in losses, versus SAR 49.75 million in profits in the same period last year.

On a yearly basis, revenues rose by 3.7% to SAR 936.81 million by during the nine-month period ended September.

Loss per share registered SAR 1.38 in nine months, versus a profit per share of SAR 0.48 in the same period last year.

Source: Mubasher

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