Riyadh – Mubasher: Al Baha Investment and Development Company reported on Thursday a 9.3% year-on-year decrease in the net profit of the third quarter of 2016.
The company posted SAR 6,000 ($1,600) in Q3-16 compared to SAR 6,620 ($1,770) in the year-ago period, according to a bourse filing.
The decrease in net profits was attributed higher administrative expenses.
Al Baha achieved net profit of SAR 20,950 in the first nine months of 2016, 58.28% down from SAR 50,211 posted for the same period of 2015.
