Riyadh – Mubasher: Maharah Human Resources Company’s net earnings fell by 39.95% on an annual basis during the third quarter (Q3) of 2020, reaching SAR 48.1 million.
This decline was driven by lower revenues and gross profits by 11% and 40%, respectively, according to a statement to the Saudi bourse on Tuesday.
Meanwhile, general and administrative expenses dipped by 10% while expenses of doubtful debts fell by SAR 7.4 million.
Revenue for the three-month period ended on 30 September 2020 totalled SAR 342.1 million.
In the first nine months of 2020, the net profits stood at SAR 154.8 million, down by 24.9% when compared to SAR 206.1 million in the year-ago period.
