Al Kathiri Holding Company was able to turn profitable in the second quarter of 2021, as it made a profit after zakat and tax of 3.1 million riyals, compared to a loss of 1.3 million riyals in the same period last year.
According to Al Arabiya, in the first half of the year, Al Kathiri's profits rose by 212% to 7.3 million riyals, from 2.3 million riyals in the first six months of 2020.
The company attributed, in a statement on the Saudi market website Tadawul, the shift to quarterly profitability compared to the same quarter of the previous year, to the increase in revenues resulting from the increase in sales and the mitigation of The precautionary measures followed by the Kingdom of Saudi Arabia.
It also clarified in its statement that the increase in net profit during the first half of the year was due to the same reasons.
