Riyadh – Mubasher: Development Works Food Company posted an 8.83% year-on-year increase in its profits for the first quarter of 2019.

Net profits after zakat and tax recorded SAR 1.45 million in Q1-19, compared to SAR 1.33 million in Q1-18, according to a filing to the Saudi Stock Exchange (Tadawul) late Tuesday.

Revenues of the Saudi-based company jumped 35.5% to SAR 30.75 million during the first three months of 2019, from SAR 22.69 million in the same period of the prior year.

Earnings per share (EPS) stood at SAR 1.17 in the three-month period ended March, versus SAR 1.07 in the same period the year before.