Thob Al Aseel profits fell 39.5% in the third quarter

Thob Al Aseel's profits decreased by 39.5% to reach 3.58 million riyals after zakat and tax in the third quarter of 2021, compared to 5.92 million riyals in the same period of the year. 2020.

According to Arabiya Net and on a quarterly basis, the company's profits decreased by 89.6% in the third quarter, compared to profits of 34.49 million riyals in the second quarter of 2021.

The company said, in a statement to Saudi Arabia's Tadawul, that the reason for the decrease in net income is due to a drop in sales by 24.30%, in addition to the company signing a contract to supply medical supplies during The same quarter of the previous year.

According to the statement, during the same quarter of the previous year, the company benefited from government initiatives to mitigate the effects of the Covid-19 pandemic, as it contributed to reducing expenses.

In terms of the first nine months of this year, the company's sales decreased by 31.3% to 52.04 million riyals, compared to 75.76 million riyals in the same period of the previous year. .