Riyadh – Mubasher: Takween Advanced Industries registered a net profit of SAR5.03 million ($1.34 million) in the first quarter of 2016 against a net loss of SAR15.5 million ($4.13 million) for the year-ago period.
Although the company saw a decrease in sales and an increase in finance charge, higher profitability came as a result of lower cost of sales as well as lower administrative, general, selling, distributing, searching, and developing expenses, the company said in a bourse filing.
