Riyadh – Mubasher: Development Works Food’s (DWF) profits increased 23.8% to SAR 1.04 million in the first quarter of 2017 from SAR 842,630 million in the year-ago period.

The company attributed the rise in profits to higher revenues by 68.32% year-on-year, according to a bourse filing on Wednesday.

Revenues reached SAR 13.47 million in Q1-17 compared to SAR 8 million in Q1-16.

The company’s profits fell 1.04% to SAR 5.73 million in 2016 from SAR 5.79 million in 2015.