Riyadh – Mubasher: Al Babtain Power and Telecommunication on Thursday posted a 50.2% year-on-year decrease in profits for the second quarter of 2018, recording SAR 20.5 million, down from SAR 41.2 million.

Al Babtain attributed the second-quarter profit drop to an increase in sales’ cost, according to a bourse filing. 

During the first six months of 2018, the company’s profits went down 50.3%, to SAR 39.9 million, from SAR 80.3 million, in H1-17.

Sales tumbled 16.3% to SAR 527.9 million by the end of H1-18, compared to SAR 630.4 million in the corresponding six months last year.

Al Babtain’s stock edged down 0.73% to close Thursday’s trading session at SAR 24.40.