Riyadh – Mubasher: Saudi Research and Marketing Co.’s net losses surged 1107% to SAR 80.9 million ($21.57 million) for the third quarter of 2016 from SAR 6.7 million ($1.8 million) in the year-ago period.
The losses were attributable to lower revenues by 10.4% especially the revenues of the publishing, printing and packaging sectors, according to a bourse filing on Thursday.
The profit margin of some sales, adding to lower row materials’ prices in the printing and packaging sectors contributed to higher losses.
The company achieved SAR 110.6 million losses in the first nine months of 2016 against net profits of SAR 30.6 million in the prior-year period.
