Riyadh – Mubasher: National Industrialization Company (Tasnee) on Wednesday stated that its net profits surged 77.6% in the third quarter of 2017, compared to the year-ago period.
Net profits stood at SAR 191.6 million in Q3-17, compared to SAR 107.9 million in Q3-16, according to a bourse filing.
Quarter-on-quarter, profits soared 104.7%.
Saudi Arabia-based industrialization firm attributed the rise in its year-on-year net profits to the increase in sales price of Titanium Dioxide products, growth in the company’s net profit in associate firms.
Net profits jumped 322.2% to SAR 388.4 million since January to September 2017, from SAR 92 million in the same period in the year before.
By 10:37 am KSA time, Tasnee’s stock levelled up 2.36% to SAR 15.16.
