Riyadh – Mubasher: Al Hammadi Company for Development and Investment on Sunday posted a 9.6% year-on-year decline in net profits for the third quarter of 2018.

Net profit totalled SAR 21.31 million in the three-month period ended September, versus SAR 23.58 million in the same quarter last year, Al Hammadi said in a filing to the Saudi Stock Exchange (Tadawul).

Quarter-on-quarter, profits increased 6.9% from SAR 19.93 million.

Moreover, revenue climbed 53.6% to SAR 250.39 million in Q3-18, from SAR 163 million in the prior-year period.

In the first nine months of 2018, the company’s profits fell 6.59% to SAR 72.123 million, versus SAR 77.21 million in the year-ago period.

Sales jumped 28.007% to SAR 665.56 million during the January-September period, from SAR 519.94 million in the corresponding nine months of 2017.

Earnings per share (EPS) amounted to SAR 0.6 at the end of September, compared to SAR 0.64 in the same period a year earlier.