Riyadh – Mubasher: Astra Industrial Group (Astra) posted its interim financial statements for the second quarter of 2019.

Net profits after zakat and tax inched down 1.9% to SAR 15.77 million in Q2-19, compared to SAR 16.08 million in Q2-18, according to the company’s statement to the Saudi Stock Exchange (Tadawul) on Thursday.

Revenues of the Saudi firm increased by 11.3% to SAR 485.7 million in the three-month period ended in June, from SAR 436.4 million in the corresponding period a year earlier.

The company attributed the drop in profits to lower other income mainly in the pharmaceuticals sector, in addition to higher zakat expenses for pharmaceuticals and speciality chemicals sectors.

For the first six months of 2019, Astra posted a 40.6% year-on-year drop in profits, recording SAR 24.68 million.

Meanwhile, revenues grew by 4.29% to SAR 952.4 million in H1-19, versus SAR 913.22 million in H1-18.

Profit per share stood at SAR 0.31 by the end of June, compared to SAR 0.52 in the same period the year before.