Riyadh – Mubasher: Abdullah Saad Mohammed Abo Moati for Bookstores Co registered a decline of 5.5% in net profits during the third quarter ended 31 December 2017 compared to the same period in the prior year.

Earnings decreased to SAR 7.04 million in Q3-17 compared to SAR 7.45 million in the corresponding period in 2016, according to a bourse filing to the Saudi Stock Exchange (Tadawul) on Monday.

On a quarterly basis, Abo Moati for Bookstores grew by 41.1% in Q3 ended on 31 December 2017 compared to SAR 4.99 million in the second quarter ended on 30 September 2017.

During Q3, sales shrank by 4.4% to SAR 96.67 million when compared to SAR 101.08 million in the same period in the prior year.

In the first nine months that ended on 31 December 2017, net profits increased by 6.9% to SAR 13.5 million from SAR 12.6 million in the same period a year ago.

Abo Moati for Bookstores’ sales declined by 16.5% to SAR 223.92 million in the nine-month period ended on 31 December 2017 from SAR 268.29 million in the same period last year.

Abo Moati for Bookstores is a public company that has been listed on the Parallel Market (NOMU) since February 2017.