Wafrah’s profits plunge 82% in Q2

Net profits after zakat and tax tumbled 82.27% in Q2-19


Riyadh – Mubasher: Wafrah for Industry and Development Company (Wafrah) reported its interim financial statements for the second quarter of 2019.

Net profits after zakat and tax tumbled 82.27% to SAR 294,385 in Q2-19, compared to SAR 1.66 million in Q2-18, according to the company’s statement to the Saudi Stock Exchange (Tadawul) on Sunday.

Total revenues inched down 0.23% year-on-year to SAR 24.04 million in Q2-19.

For the first six months of 2019, net profits of Wafrah increased by 28.8% to SAR 823,636, versus SAR 638,978 in H1-18.

Revenues of the Saudi-based firm levelled up 4.5% to SAR 50.28 million in H1-19, from SAR 48.11 million in the same period of the prior year.

Profit per share stood at SAR 0.041 during the six-month period ended in June, compared to SAR 0.032 in the same period a year earlier.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2019 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Markets