Riyadh – Mubasher: Saudi Company for Hardware’s (SACO) net profit rose 7.1% in the first quarter of 2017.
Net profits amounted to SAR 30.76 million in Q1-17 compared to SAR 28.72 million in the same quarter last year.
The rise in net profit was due to an increase in sales in most of the departments as a result of adding two new showrooms to the current 25.
Lower general and administrative, financial, marketing, and zakat expenses also contributed to higher profits, according to a bourse filing on Wednesday.
Sales grew 7.6% to SAR 326.3 million, up from SAR 303.2 million in the same period of the previous year.
