Riyadh – Mubasher: Raydan Co’s profits retreated 15.5% to SAR 42.45 million ($11.32 million) in 2016 from SAR 50.22 million ($13.39 million) in 2015.

The company attributed the decrease in profits to lower sales and losses of exchange differences, according to a bourse filing on Sunday.

Sales fell 5% to SAR 299.9 million in 2016 from SAR 314.1 million in the previous year.