Al Hammadi Company for Development and Investment achieved 3.2% growth in first quarter 2020 profits to reach 24.94 million riyals, compared to 24.17 million riyals in the same period last year. < / p>
According to ArabiaNet, the profits fell by 9.8% compared to the previous quarter’s profits, which was 27.65 million riyals.
The operating profit of Al Hammadi Company reached 37.06 million riyals, compared to 65.6 million riyals, in the first quarter of 2019, a growth of 0.8%.
The company stated that the first-quarter profit rise was due to an increase in revenues from medical services, a decrease in administrative expenses, and a decrease in financing costs due to the lower cost of lending.
