Riyadh – Mubasher: Saudi Arabia Refineries (SARCO) turned to profit during the second quarter of 2019, achieving SAR 10.2 million net profit.

In the first six months of the year, SARCO’s profit reached SAR 8.96 million, according to a bourse statement released on Tuesday.

“The reason for profit during the current quarter is due to dividend distributions for the first half of 2019 from the Saudi Industrial Investment Company (an investor company) for SAR 11.4 million” the company revealed.

The Tadawul-listed company posted a 3.6% year-on-year loss increase during the first quarter of 2019, registering SAR 1.7 million.