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Arab Sea Q1 profit falls 86%

Arab Sea Q1 profit falls 86%
Net profits after zakat and tax stood at SAR 127,838 in Q1-19
ARAB SEA
7201
50.68% 7.76 2.61

Riyadh – Mubasher: Arab Sea Information System Company reported an 85.84% year-on-year decline in its profits for the first quarter of 2019.

Net profits after zakat and tax stood at SAR 127,838 in Q1-19, compared to SAR 902,939 in Q1-18, according to the company’s statement to the Saudi Stock Exchange (Tadawul) on Monday.

The first-quarter profit decline was attributed to low revenues and high cost.

Earnings per share (EPS) recorded SAR 0.01 during the first three months of 2019, against SAR 0.09 in the same period the year before.