Al-Baha Investment and Development achieved profits amounting to 380.7 thousand riyals in the first quarter of 2020, compared to losses amounting to 602 thousand riyals in the same period in 2019. p>

According to Arabia Net, the company said that the reason for achieving profits during the current quarter, compared to the corresponding quarter of the previous year, is due to:

- Revenue increased by 14.78%.

- General administrative expenses decreased by 2.24%.

- The Zakat provision for the current quarter decreased.

The company also said that the shareholders ’equity (after excluding minority rights) at the end of the period amounted to 136.564 million riyals, compared to 140.932 million riyals, as in the same period of the previous year, down 3%.

The company indicated that the accumulated losses amounted to 40.436 million riyals by the end of the current period, equivalent to 22.85% of the capital.