Riyadh – Mubasher: Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO) on Sunday reported a 35.6% year-on-year profit drop during the first nine months of 2019.
Net profit amounted to SAR 87.98 million during the nine-month period ended September, compared to SAR 136.64 million in the same period a year earlier, according to a statement to the Saudi Stock Exchange (Tadawul).
Sales of the Saudi maker of veterinary medicines dropped 6% year-on-year to SAR 917.23 million from January to September 2018, versus SAR 975.35 million, while total comprehensive income increased to SAR 365.83 million from SAR 63.96 million.
During the third quarter of 2018, the company incurred a loss of SAR 3.35 million after calculating zakat and tax, against SAR 16.72 million in Q3-17.
Total shareholders’ equity (after deducting minority equity) rose by 10.491% to SAR 2,918.53 in the January-September period of 2018, compared to SAR 2,641.4 in the year before.
Profit per Share amounted to SAR 0.74 by the end of September, against SAR 1.09 in the year-ago period.
During the first six months of 2018, the Tadawul-listed firm’s profits fell 40.45% to SAR 91.33 million, from SAR 153.36 million during H1-17.
