Riyadh – Mubasher: Anaam International Holding Group on Wednesday reported a net profit decline of 29.86% to SAR 1.07 million ($285,000) for Q1-16, compared to SAR 1.52 million ($405,000) in the corresponding period of 2015.

A 17% drop in sales in the agriculture sector due to lower clover production in Q1-16 owing to meteorological circumstances added to a decline in clover prices resulted in the profit fall, the company said in a filing to the Saudi Stock Exchange (Tadawul).

It added that a 29% year-on-year rise in revenues of leasing and storage in Q1-16 also contributed to the drop.