According to the results of the company for the Saudi market (Tadawul) yesterday, Wednesday, profits for the period amounted to 32.06 million riyals, compared to profits of 10.97 million riyals in the first quarter of 2019. p>
The company said in a statement to the Stock Exchange that the increase in profits during the comparison periods is due to the increase in sales / revenues of 108.8% compared to the same quarter of the previous year.
She explained that the increase in sales is a result of the increase in the amount and value of construction sector sales by 128% and 121%, respectively, and the increase in the amount and value of sales of the electricity sector by 52% and 62%, Respectively.
The Yamama Solar Energy Systems Factory has contributed to the increase in the quantity and value of sales of the electricity sector.
The reason for the increase in net profit is due to the decrease in cost of sales / revenues due to the price of raw materials in favor of the company.
Selling and distribution expenses rose 171.8% and amounted to 8.2 million riyals during the first quarter of 2020, due to higher freight charges due to higher sales quantities / local revenue and export. >
