Riyadh – Mubasher: Al Samaani Factory For Metal Industries Company (Al Samaani) reported its interim financial results for the second quarter of 2019.

Net profits after zakat and tax fell by 72.8% to SAR 226,000 in Q2-19, compared to SAR 833,000 in Q2-18, according to the company’s filing to the Saudi Stock Exchange (Tadawul) on Sunday.

Total revenues of the Saudi firm increased by 3.16% to SAR 11 million during the three-month period ended June, from SAR 10.6 million in the same period of the prior year.

For the first half of 2019, Al Samaani turned to losses with SAR 622,000, against profits of SAR 2.3 million in H1-18.

The company generated SAR 18.7 million in revenues in H1-19, versus SAR 22.6 million in the corresponding period of 2018.

Loss per share recorded SAR 0.42 by the end of June, while profit per share reached SAR 1.57 in the same period a year earlier.