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Al Omran Industrial’s profit drops 43% in Q2

Al Omran Industrial’s profit drops 43% in Q2
The firm’s profits amounted to SAR 2.96 million during Q2-18
ALOMRAN
4141
16.29% 41.40 5.80

Riyadh – Mubasher: Saudi Arabia-based Al Omran Industrial and Trading Company on Wednesday reported a 43.48% year-on-year decrease in profits of the second quarter of 2018.

The firm’s profits amounted to SAR 2.96 million during Q2-18, compared to SAR 5.2 million in Q2-17, according to a statement to the Saudi Stock Exchange (Tadawul).

Quarter-on-quarter, profits levelled up 74.13% during the period between April and June, from SAR 1.7 million.

The Saudi firm attributed the second-quarter profit decline to a drop in sales.

During the first six months of 2018, Al Omran Industrial and Trading’s profits fell 38.08%, to SAR 4.65 million, from SAR 7.5 million in H1-17.