Riyadh – Mubasher: Saudi Industrial Export Company (SIEC) on Sunday stated that its net losses were deepened 13.98% in the third quarter of 2017, compared to the year-ago period.

Net losses reached SAR 10.6 million in Q3-17, compared to SAR 9.3 million in Q3-16, according to a bourse statement.

Quarter-on-quarter, losses decreased 19.7%.

The firm attributed the rise in its year-on-year net losses to sales’ drop, restructuring the company’s commercial activities, and decrease in other revenues.

At the level of the first nine months, the firm’s net losses increased 151.96%, reaching SAR 25.7 million, compared to SAR 10.2 million losses in the corresponding period in 2016.

SIEC’s stock edged up 0.74%, closing at SAR 27.20 on Sunday.