Riyadh-Mubasher: Electrical Industries Co. (EIC) recorded net earnings of SAR 16.2 million in Q4-15, down 72% compared with SAR 59 million in the same period of 2014.
The company ascribed the profit decline mainly to low sale prices and higher sale and distribution expenses.
FY15 bottom line fell 57% year-on-year from SAR 172 million to SAR 74 million.
EIC attributed the 12-month profit fall mainly to low sales of distribution transformers and power stations.
