Riyadh – Mubasher: Saudi Industrial Investment Group (SIIG) said Thursday its net profit for the fourth quarter of FY15 fell by 35% to SAR 55 million, from SAR 85 million in the corresponding period a year ago.
Net profit for the twelve-month period amounted to SAR 727 million, down 22% year-on-year from SAR 933 million.
The profit decline in the fourth quarter was ascribed to lower sales. Meanwhile, the fall in FY15 net earnings was due to the rise in SIIG’s share in losses of a subsidiary.
