Riyadh – Mubasher: Abdullah Al Othaim Markets Company (Abdullah Al Othaim) reported a 38.8% year-on-year rise in net profits over the third quarter of 2019 to SAR 75.38 million from SAR 54.31 million in the same quarter in 2018.
The increase in profits is ascribed to higher sales and the improved profit margin despite the negative effect of applying the international standard of the financial report no.16 as well as higher operating costs of expatriates' fees.
During the first nine-month of 2019, the company logged a profit of SAR 202.45 million, 3.46% higher from SAR 195.68 million a year earlier.
Regarding the second quarter of 2019, the firm’s profit retreated by 20.75% to SAR 58.73 million from SAR 74.11 million in Q2-18.
