Riyadh – Mubasher: Bawan Holding’s profits retreated 24.3% to SAR 21.59 million in the first quarter of 2016 from SAR 28.52 million in the year-ago period.
The fall in the net profits was attributable to lower revenues, according to a bourse filing on Thursday.
Operational, financial, and zakat expenses, in addition to the income tax decreased, while other revenues rose.
Total revenues declined 10% to SAR 549.9 million in Q1-17 compared to SAR 611.1 million in the same period of last year.
