Riyadh – Mubasher: Al Baha Investment and Development Company posted on Sunday a net profit of SAR 5,800 ($1,550) for the second quarter of the fiscal year 2016, 9.3% up from SAR 5,300 ($1,400) reported for Q2-15.
Meanwhile, net profit declined 36.5% quarter-on-quarter, according to a bourse filing.
The y-o-y rise was attributed to the increase in the company’s businesses and higher revenues, while the q-o-q fall was a result of higher general and administrative expenses.
In the first half of fiscal 2016, net profit reached SAR 14,940, 65.72% down from SAR 43,590 posted for the same period of 2015.
