Riyadh – Mubasher: Al Abdullatif Industrial Investment Company on Monday said its profits soared 134.44% in the third quarter of 2017, compared to the year-ago period.

Net profits stood at SAR 3.54 million in Q3-17, compared to SAR 1.51 million in Q3-16, according to a statement to the Saudi Stock Exchange (Tadawul).

Quarter-on-quarter, profits slid 74.2%.

The Tadawul-listed firm attributed the rise in its year-on-year net profits to not registering losses in its investments, growth in other revenues, and decrease in financing expenses.

At the level of the first nine months of 2017 net profits went up 2.5% to reach SAR 29.62 million, compared to SAR 28.91 million in the corresponding period in 2016.

Al Abdullatif’s stock inched up 0.15%, closing at SAR 13.78 on Monday.