Riyadh – Mubasher: Tabuk Agricultural Development Company on Tuesday reported turning to profits during the second quarter of 2018, against suffering losses in the year-ago period.
The firm generated SAR 6.6 million ($1.76 million) net profits by the end of Q2-18, against SAR 2.15 million ($570,000) losses in Q2-17, according to a statement to the Saudi Stock Exchange (Tadawul).
Tabuk Agricultural Development attributed its Q2 profitability to a rise in sales volume.
At the level of the first six months in 2018, the Saudi agriculture firm turned a profit with SAR 951,000, against SAR 5.89 million in losses during H1-17.
The stock rose 1.1% to end Tuesday at SAR 11.02.
