Riyadh – Mubasher: Saudi Pharmaceutical Industries and Medical Appliances Corp’s (SPIMACO) profits rose 12.9% year-on-year in the first quarter of this year.
Profits amounted to SAR 99.95 million in Q1-17 from SAR 88.53 million in Q1-16, according to a bourse filing on Thursday.
The company attributed the advance in net profits to higher sales.
Total sales increased 22% to SAR 393.1 million compared to SAR 322.2 million in the same period of the previous year.
