Riyadh – Mubasher: Herfy Food Services Co on Thursday said its net profits decreased by 12.3% year-on-year in the second quarter of 2017.
Net profits tumbled to SAR 43.4 million in Q2-17, from SAR 49.5 million in Q2-16, according to statements to the Saudi Stock Exchange (Tadawul).
Quarter-on-quarter, net profits retreated 17.7%.
The food services firm attributed the decline in its year-on-year net profits to a sales drop and the decrease of other revenues.
At the level of the first six months of 2017, net profits levelled down 6.5% to reach SAR 96.12 million, compared to SAR 102.84 million in H1-16.
The stock shed 0.70%, closing at SAR 53.40 on Thursday.
