Riyadh – Mubasher: National Gypsum Company has reported a 112.2% year-on-year profit hike during the third quarter of the fiscal year 2019, according to a bourse statement.

The Tadawul-listed company’s net profit after zakat and tax surged to SAR 6.96 million in Q3-19, compared to SAR 3.28 million in the year-ago period.

National Gypsum attributed the profit hike to a 19.1% YoY increase in net sales and a 31% YoY increase in investment revenue, along with an 8.37% YoY decline in general and marketing expenses.

In the first nine months of 2019, the company’s profit dropped to SAR 1.56 million, from SAR 4.81 million the year before.

National Gypsum suffered SAR 1.89 million in losses during Q2-19, against profits of SAR 1.18 million in Q2-18.