Riyadh – Mubasher: Saudi Company for Hardware (SACO) has reported a 6.4% year-on-year profit hike during the second quarter of the fiscal year 2019.

SACO’s profit after Zakat and taxes reached SAR 21.69 million in Q2-19 versus SAR 20.38 million a year earlier, according to a bourse statement released on Tuesday.

Quarter-on-quarter, net profit went up 12.7% from April 2019 until the end of June, compared to SAR 19.24 million in Q1-19.

Sales rose 0.2% year-on-year to SAR 343.83 million during the second quarter of this year.

The Tadawul-listed company’s profit surged 17.04% to SAR 40.93 million in the first six months of 2019, against SAR 34.97 million the year before.

Meanwhile, SACO’s revenue grew 7.4% to SAR 714.07 million in H1-19 from SAR 664.69 million in H1-18.