Riyadh - Mubasher: Jazan Development Company (Jazadco) reported losses of SAR 1.72 million in the first quarter of 2017 against net profits of SAR 1.23 million for the same period last year, as shown by the company’s financial statements.

The company said in a statement to the Saudi Stock Exchange (Tadawul) on Monday that losses are attributed to the decline in sales by 52% from SAR 20.27 million in Q1-16 to SAR 9.63 million in Q1-17.