Riyadh – Mubasher: Saudi Transport and Investment’s (Mubarrad) profits declined 65% year-on-year to SAR 6.3 million ($1.68 million) in the third quarter of 2016 from SAR 18 million ($4.8 million).
The decrease in net profit was mainly due to lower operating revenue amount to SAR 16 million and higher general and administration expenses amounted to SAR 2.6 million, due to the administration restructuring in the subsidiary company (AMNCO).
The company’s profits fell 17.84% to SAR 31.8 million in the first nine months of 2016 from SAR 38.7 million in the year-ago period, according to a bourse filing on
The revenue went down 12.6% to SAR 109.8 million in Q3-16 compared to SAR 125.7 million in Q3-15.
