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Tasnee sees SAR 191.6m net profits in Q3

Tasnee sees SAR 191.6m net profits in Q3
Net profits stood at SAR 191.6 million in Q3-17, compared to SAR 107.9 million in Q3-16, according to a bourse statement
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Riyadh – Mubasher: National Industrialization Company (Tasnee) on Wednesday stated that its net profits surged 77.6% in the third quarter of 2017, compared to the year-ago period.

Net profits stood at SAR 191.6 million in Q3-17, compared to SAR 107.9 million in Q3-16, according to a bourse filing.

Quarter-on-quarter, profits soared 104.7%.

Saudi Arabia-based industrialization firm attributed the rise in its year-on-year net profits to the increase in sales price of Titanium Dioxide products, growth in the company’s net profit in associate firms.

Net profits jumped 322.2% to SAR 388.4 million since January to September 2017, from SAR 92 million in the same period in the year before.

By 10:37 am KSA time, Tasnee’s stock levelled up 2.36% to SAR 15.16.