Riyadh – Mubasher: Saudi Company for Hardware (SACO) on Thursday said that its net profits levelled up 8.21% in the third quarter of 2017, compared to the year-ago period.

Net profits reached SAR 22.79 million in Q3-17, compared to SAR 21.06 million in Q3-16, according to a statement to the Saudi Stock Exchange (Tadawul).

Quarter-on-quarter, profits retreated 43.53%.

The Saudi firm for hardware attributed the growth in its year-on-year net profits to sales’ rise of most of the departments due to an increase in number of branches to 28 from 26, and Medscan revenues.

At the level of the first nine months, net profits rose 8.14% to reach SAR 93.91 million, compared to SAR 86.84 million in the corresponding period in the year earlier.

By 12:25 pm KSA tim, SACO's stock rose 3.13% to reach SAR 112.