Riyadh – Mubasher: Al Gassim Investment Holding Co (GACO) announced it has achieved a net profit of SAR 9.36 million in the first quarter of 2019, compared to SAR 294,000 in Q1-19.

Revenue fell by 1.6% year-on-year in Q1-19, recording SAR 2.92 million, versus SAR 2.97 million, GACO said in a statement to the Saudi Stock Exchange (Tadawul).

Operational profits amounted to SAR 1.58 million in the January-March period of 2019, compared to SAR 1.3 million in Q1-18, the company added.

Earnings per Share (EPS) stood at SAR 0.312 in Q1-19, versus SAR 0.01 in the prior-year period, according to the statement.

In 2018, GACO had turned to losses, incurring SAR 7.7 million, against a net profit of SAR 3.34 million in 2017.