Riyadh – Mubasher: The net profits after Zakat and tax of Saudi Vitrified Clay Pipes Company reached SAR 8.8 million in 2019, up 100% from SAR 4.4 million in the previous year.

The increase in net profits is driven by a rise in the number of sales and a decrease in their costs, according to the company’s financial results for 2019 disclosed to the Saudi Stock Exchange (Tadawul) on Sunday.

The company’s revenues grew by 3.986% to SAR 122.6 million last year from SAR 117.9 million in 2018.

Meanwhile, the earnings per share (EPS) stood at SAR 0.59 in 2019 from SAR 0.29 during the earlier year.

It is noteworthy to mention that during the third quarter of 2019, the company’s net profits declined by around 7.55% to SAR 1.47 million from SAR 1.59 million in the same quarter of 2018.