Riyadh – Mubasher: Herfy Food Services Company achieved a 3.85% year-on-year increase in profits in the third quarter of 2016 to SAR 58.83 million ($15.7 million) from SAR 56.65 million ($15.1 million) in the same quarter last year.
Profits also increased by 18.4% quarter-on-quarter, according to the company’s statement to the Saudi Stock Exchange (Tadawul) on Wednesday.
As for the nine months of 2016, profits increased by 3% to SAR 162.13 million from SAR 157.46 million in the same period in 2015,
The rise in the company’s earning is mainly due to the 12.8% increase in sales which amounted to SAR 35.7 million in Q3-16, Sales in the first 9 months of the year also grew by 9% to SAR 876.5 million compared to SAR 804 million for the same period in 2015.
