Riyadh - Mubasher: Aseer Trading, Tourism and Manufacturing Company posted a net loss of SAR 48.1 million ($12.8 million) in the third quarter of 2016, versus a net profit of SAR 22.5 million ($6 million) in the same period last year.
Losses are attributed to operational losses in the company’s subsidiaries, as well as an increase in costs, and a decline in other revenues, the company said in a bourse filing on Tuesday.
As for the financial results of the nine-month period that ended 30 September, the company recorded SAR 83.8 million compared to SAR 147.8 million in the same period in 2015.
