According to the company’s results for the Saudi market (Tadawul) today, last year’s profits reached 246.1 million riyals, compared to 2018’s profits of 84.6 million riyals.

The company said in a statement to the stock exchange that the increase in profits during the comparison years is due to the increase in revenues by 15.7%, noting that direct costs last year increased compared to 2018 mainly as a result Operating costs for some projects.

The increase in operating profit is also due to a decrease in selling and marketing expenses, general and administrative expenses, as well as an increase in gross profit.

The company explained that the accumulated profits amounted to about 189.5 million riyals as of December 31, 2019.