Riyadh – Mubasher: Development Works Food Company (DWF) disclosed its interim financial results for the second quarter of 2019.

Net profits after zakat and tax fell by 16.57% to SAR 2.24 million in Q2-19, compared to SAR 2.68 million in Q2-18, according to the company’s filing to the Saudi Stock Exchange (Tadawul) on Tuesday.

The Saudi-based company generated SAR 39.9 million in revenues during the three-month period ended June, up 28% from SAR 31.16 million in the same period of the prior year.

For the first half of 2019, net profits of DWF declined by 8.12% to SAR 3.7 million, versus SAR 4.02 million in H1-18.

Meanwhile, total revenues jumped by 31.25% year-on-year to SAR 70.6 million during the first six months of 2019.

Profit per share stood at SAR 2.96 by the end of June, compared to SAR 3.22 in the corresponding period of 2018.