Riyadh – Mubasher: Saudi Company for Hardware (SACO) has launched its first specialised technology department that provides mobile phones, tablets, and games and their accessories.

Located in SACO World store, North Ring Road-Riyadh, the new unit is part of the firm's plan announced on 16 February and it would be followed by inaugurating the same department in other stores, according to a statement to the Saudi Stock Exchange (Tadawul) on Tuesday.

This department is expected to enhance sales and profits, SACO noted, adding that its financial impact is expected to appear in the second quarter of 2018.

The Saudi firm for hardware last posted a 4.6% growth in net profits to hit SAR 134.9 million for the full year of 2017, compared to SAR 128.97 million a year earlier.

By 10:39 Saudi time, SACO’s stock shed 0.03% to SAR 126.