Riyadh – Mubasher: Arab Sea Information System turned to profits in the first quarter of 2017.
The company achieved net profits of SAR 667,100 in Q1-17 against losses of SAR 725,570 in the same period in 2016.
Arab Sea reasoned turning to profits to higher operational revenues and lower costs, according to a bourse filing on Tuesday.
Operational profits reached SAR 753,270 in Q1-17 versus losses of SAR 644,250 in the year-ago period.
Net revenues rose 7% to SAR 13.46 million in Q1-17 compared to SAR 12.58 million in the same period of the last year.
