Riyadh – Mubasher: Wafrah for Industry and Development Company (Wafrah) reported an 80.6% year-on-year drop in its losses for the third quarter of 2019, suffering SAR 1.8 million.

Total revenues grew by 58.49% to SAR 21.26 million in Q3-19, from SAR 13.41 million in Q3-18, according to a bourse statement on Thursday.

During the nine-month period ended September, net losses of Wafrah plunged by 88.7% to SAR 981,262, compared to SAR 8.68 million in the same period last year.

The company generated SAR 71.5 million in revenues in nine months, 16% higher than SAR 61.5 million in the same period the year before.

Loss per share registered SAR 0.05 by the end of September, compared to SAR 0.43 in September 2018.