Riyadh – Mubasher: Abo Moati for Bookstores Company registered SAR 720,000 worth of net profits in the second quarter (Q2) of 2020, a decline of 27.27% when compared to SAR 990,000 in the corresponding period in 2019.
The company attributed the decrease in profits to an 18.41% drop in sales, driven by the precautionary measures adopted to stop the coronavirus pandemic, according to a bourse disclosure on Thursday.
Sales stood at SAR 36.16 million over the April-June period in 2020, compared with SAR 44.32 million in the year-ago period.
