Riyadh – Mubasher: Al Ahsa Development Company turned to profit during the first quarter of 2019.

Net profit after zakat and taxes reached SAR 2.39 million in the first quarter of 2019, compared to a loss of SAR 2.42 million a year earlier, according to a bourse statement released on Thursday.

The Tadawul-listed company attributed its profits to the increase in revenue and the decline in both administrative and sales costs.

Meanwhile, Al Ahsa’s profit dropped 75.07% quarter-on-quarter in the three-month period ended 31 March.