Riyadh – Mubasher: Al Ahsa Development Company disclosed its interim financial results for the second quarter of 2019.

Net profits after zakat and tax hiked 101% to SAR 2.97 million in Q2-19, compared to SAR 1.48 million in Q2-18, according to the company’s filing to the Saudi Stock Exchange (Tadawul) on Sunday.

Revenues of the Saudi-based company increased by 9.22% to SAR 58.62 million during the three-month period ended in June, from SAR 53.67 million in the same period of the prior year.

For the first half of 2019, Al Ahsa turned profitable with SAR 5.37 million, versus losses of SAR 943,211 in H1-18.

The company generated SAR 116.2 million in revenues during the first six months of 2019, up 8.9% from SAR 106.6 million in the corresponding period last year.

Profit per share stood at SAR 0.07 by the end of June, against loss per share of SAR 0.05 in the same period a year ago.