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Zahrat Al Waha’s Q3 profits grow 57%

Zahrat Al Waha’s Q3 profits grow 57%
Net profits of Zahrat Al Waha recorded SAR 34.24 million in nine months
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Riyadh – Mubasher: Zahrat Al Waha for Trading Company reported its interim financial results for the third quarter of 2019.

Net profits after zakat and tax jumped by 57.36% to SAR 15 million in Q3-19, compared to SAR 9.5 million in Q3-18, according to the company’s filing to the Saudi Stock Exchange (Tadawul) on Thursday.

The firm attributed the increase in profits to the rise in sales, and the drop in sales cost.

For the first nine months of 2019, net profits of Zahrat Al Waha recorded SAR 34.24 million, from SAR 21.61 million in the same period of the prior year.

Moreover, the board of directors of the Saudi firm has recommended distributing 7.5% cash dividends to its shareholders during the first half of 2019.

The company will pay SAR 0.75 per share, or a total of SAR 11.25 million.