With the largest, its annual profit increases by 27%.

Baazeem Trading Company achieved a net profit growth of 27.3%, reaching 26.26 million riyals in 2020 compared to 20.625 million riyals in 2019.

According to Arabnet, the company said in a statement that the reason for the increase in net profit is due to the increase in sales and the decrease in general and administrative expenses as well as the decrease in financing expenses, according to the company.

Net sales for the fourth quarter of last year amounted to 66.859 million riyals, compared to 68.701 million riyals in the same quarter of the fiscal year 2019, a decrease of 2.68%.

The net income and comprehensive income for the fourth quarter of 2020 amounted to 5.88 million riyals, compared to 5.142 million riyals for the same quarter of the fiscal year 2019, an increase of 14.36%.

The company announced the Board of Directors’s recommendation to distribute 17.72 million riyals to shareholders for last year's profits, and the share per share of the distribution is 1.75 riyals.