Riyadh – Mubasher: Aseer Trading, Tourism, and Manufacturing Co. on Thursday reported a 58.3% year-on-year decline in net profit during the first quarter of 2019, recording SAR 5 million.

The company ascribed the decreased profits to the decline in both total and operative profits and the increase in the administrative and general costs, in addition to the increase in the cost of sales and distribution, according to a bourse statement.

The Tadawul-listed company’s accumulated loss reached SAR 88.8 million, which account for 7.03% of its capital.