Riyadh – Mubasher: Zahrat Al Waha for Trading on Tuesday reported an 11.86% decrease in its net profits during the full year 2017, compared to the prior year.

The Saudi Arabia-based firm’s net profits amounted to SAR 46.89 million last year, down from SAR 53.2 million in 2016, according to a bourse statement.

The maker of plastic bottle caps and other products attributed the decline in its annual profits to an increase in sales’ cost, a growth in electricity prices, a rise in sales and distribution expenses, and a jump in financing expenses.

Zahrat Al Waha’s shares were listed on Tadawul on 17 September 2017.

By 10:47 am KSA time, the stock decreased 2.64% to SAR 48.75.