Riyadh – Mubasher: The Saudi National Metal Manufacturing and Casting Company (Maadaniyah) on Sunday reported a 86.19% year-on-year decline in its losses during the third quarter of 2018, recording SAR 620,000, compared to SAR 3.6 million.

The firm attributed the third-quarter loss decline to higher demand for some products and a rise in other revenues, according to a filing to the Saudi Stock Exchange (Tadawul).

During the first nine months of 2018, Maadaniyah's net profit amounted to sar 2.2 million, against SAR 9.4 million in the same period a year earlier.

The company recorded a profit of SAR 2.86 million in the first six months of 2018, against suffering a loss of SAR 4.9 million in H1-17.