Bawan Saudi Company achieved profits of 15.2 million riyals in the first quarter of this year.
According to ArabiaNet, these profits are stable with a slight increase of 1% when compared to their level a year ago.
The company said that the reason for the increase in net profit during the current quarter is due to the increase in gross profit due to the increase in revenues and the profit margin.
This increase in profits comes despite the recognition of the loss of investment valuation in financial assets at fair value resulting from the subscription in the initial offering of Aramco at an amount of SAR 7.1 million. >
It also comes in light of the high operating expenses and other income, as well as the financial expenses and zakat.
