Riyadh – Mubasher: Takween Advanced Industries on Wednesday released its financial data for the first nine months of 2017, which showed a net loss of SAR 70,664 against SAR 18,729 in net profits in the year-ago period.
The company incurred operating losses of SAR 35,824 in the first three quarters of 2017 against SAR 82,507 in operating profits in the comparative period of 2016, according to a filing to the Saudi Stock Exchange (Tadawul).
Loss per share (LPS) hit SAR 0.74 in the nine-month period ended 30 September, against earnings per share (EPS) of SAR 0.49 in the corresponding period of 2016.
As for quarterly results, Takween suffered a net loss of SAR 49,092 in the third quarter of 2017, compared to SAR 4,346 in the prior year period, the company’s data showed.
Takween incurred an operating loss of SAR 39,025 from July to September 2017 versus SAR 30,069 in operating profits in Q3-16.
Losses incurred in the two financial periods were attributed to the decline in sales revenues along with the growth of sales costs, the company said in a statement to Tadawul.
