Riyadh – Mubasher: Al Kathiri Holding Company (Al Kathiri) reported a 22% year-on-year increase in its profits for the third quarter of 2019, recording SAR 4.14 million.
Revenues of the Saudi firm jumped by 31.84% to SAR 18 million in Q3-19, compared to SAR 13.6 million in Q3-18, according to a bourse filing on Thursday.
“Increase in net profit for the current quarter compared to the same quarter of the previous year is attributed to the increase in the operating profit margin due to the increase in sales value during the third quarter of 2019,” the statement said.
For the first nine months of 2019, net profits of Al Kathiri hiked by 47.8% year-on-year to SAR 11.7 million.
Similarly, revenues levelled up by 56.93% to SAR 63 million by the end of September, from SAR 40 million in the same period last year.
