Riyadh – Mubasher: Saudi Arabia-based Zahrat Al Waha for Trading Company reported a 115% surge in profits during the first quarter of 2019, compared to the year-ago period.

Zahrat Al Waha’s profits reached SAR 9.13 million during Q1-19 up from SAR 4.25 million in Q1-18, according to a bourse filing on Monday.

The firm attributed the large rise in earnings to an increase in sales, whereas administrative and general expenses tumbled over the first quarter in 2019.

Quarter-on-quarter, profits decreased by 30% from SAR 13 million in the fourth quarter of 2018.

During Q4-18, Zahrat Al Waha reported a leap of 2806% in net profits to SAR 13 million when compared to SAR 450,000 in Q4-17.