Riyadh – Mubasher: Aseer Trading, Tourism and Manufacturing Company on Thursday said its profits declined 43.48% year-on-year for the first quarter of 2018.

Net profits amounted to SAR 11.7 million down from SAR 20.7 million in Q1-17, according to the company’s filing to the Saudi Stock Exchange (Tadawul).

Earnings per share (EPS) decreased to SAR 0.09 per share for the three-month period ended 31 March, versus EPS of SAR 0.16 for the same period of the prior year.

Moreover, operating profits went down 25.66% to SAR 39.7 million in Q1-18, from SAR 53.4 million for the same period of the previous year, data showed.

Aseer Trading attributed the drop in profits to a decrease in sales during the first three months of the year.

By the end of Thursday’s session, Aseer Trading’s stock rose 0.60% at SAR 11.72.