Riyadh – Mubasher: Development Works Food’s (DWF) profits fell 1.04% to SAR 5.73 million in 2016 from SAR 5.79 million in 2015.
The company attributed the decrease in profits to higher general and administrative expenses, including depreciation provision in 2016.
Higher zakat provision also contributed to lower profits in 2016, according to a bourse filing on Thursday.
DWF topped the best performers on the Saudi Stock Exchange (Tadawul) on Thursday and gained 2.55% to SAR 95.
