Riyadh - Mubasher: Herfy Food Services reported a growth in net profits in 2016 by 7.31% compared to the year before, according to a bourse filing.
Profits totaled SAR 217.5 million up from SAR 202.5 million in 2015, the company said in a statement to the Saudi Stock Exchange (Tadawul) on Monday.
Earnings per share also went up to SAR 4.71 compared to SAR 4.39 in 2015.
The rise of the company's net profit for 2016 by 7.4% compared to the previous year is mainly due to the increase in sales which amounted to SAR 79.7 million, despite the increase in selling and marketing expenses, as well as general and administrative expenses and the increase in net other expenses, the company explained.
