According to the results of the company for the Saudi market (Tadawul), the profits for the period amounted to 15.1 million riyals, compared to profits of 10.1 million riyals for the first quarter of 2018.
The company said in a statement to the Stock Exchange yesterday, Wednesday, that the increase in profits during the comparison periods is due to the growth in the volume of sales that contributed to the increase in the overall profit as well as the increase in profit margins. p>
This was accompanied by an increase in general selling and general expenses and an increase in the depreciation charge incurred during the period for trade and inventory receivables.
The company's sales volume in the first quarter of this year reached 220.3 million riyals, compared to 192.8 million riyals for the same period in 2018, an increase of 14.3%.
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