Riyadh – Mubasher: Qassim Agriculture Company on Wednesday said that its net profits increased by 5.6% year-on-year in the third quarter of 2017.

Net profits rose to SAR 1.48 million in Q3-17, from SAR 1.4 million in Q3-16, according to a statement to the Saudi Stock Exchange (Tadawul).

Quarter-on-quarter, profits soared 108.7%.

The company attributed the growth in its year-on-year net profits to a rise in the value of capital gains, and to a decrease in general and administrative expenses.

At the level of the first nine months of 2017, net profits slumped 95.95% to reach SAR 2.39 million, compared to SAR 58.96 million in the corresponding period in the year earlier.

By 10:32 am KSA time, the stock dropped 1.22% to reach SAR 10.50.