According to the results of the company for the Saudi market (Tadawul) today, Wednesday, the profits for the period reached 4.44 million riyals, compared to the profits of the second quarter of last year of 5.12 million riyals. p>
The company said in a statement to the stock exchange that the decline in profits during the comparison periods is due to a decrease in revenues of 49.85% due to the precautionary measures taken in all parts of the Kingdom, including the measures to ban roaming and its imposed time In some cities and regions of the Kingdom at the time, the price of selling fuel fluctuated monthly during the period.
In addition, the company has created a provision for expected credit losses, as well as a decrease in investment income.
in spite of the low operating costs due to the calculation of the new fuel profit margin during the current period and the link of the cost of fuel with sales prices and the measures taken by the company to face the Corona pandemic . In addition to the decrease in general and administrative expenses, financing costs, Zakat expenses, and the increase in other revenues.
(SASCO) achieved profits of 12.56 million riyals in the first half of this year, compared to profits of 14 million riyals for the same period in 2019, a decrease of 10.3% .
(Fun Knowledge of Knowledge)
