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

Net profits after zakat and tax grew by 24% to SAR 3.13 million in Q3-19, compared to SAR 2.52 million in Q3-18, according to the company’s filing to the Saudi Stock Exchange (Tadawul) on Sunday.

Revenues of the Saudi firm advanced by 4.7% year-on-year to SAR 60.26 million during the three-month period ended September.

For the first nine months of 2019, Al Ahsa Development’s net profits soared by 436.8% to SAR 8.51 million, versus SAR 1.58 million in the same period of the previous year.

The company generated SAR 176.5 million in revenues by the end of September, up 7.47% from SAR 164.23 million in September 2018.

Profit per share recorded SAR 0.12 in a nine-month period, against a loss per share of SAR 0.03 in the same period a year ago.