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Al Sorayai turns profitable in Q3

Al Sorayai turns profitable in Q3
The company’s revenues plunged by 20% to SAR 64.6 million in Q3-19
NASEEJ
1213
-0.36% 11.16 -0.04

Riyadh – Mubasher: Al Sorayai Trading and Industrial Group (Al Sorayai) achieved SAR 3.06 million in profits during the third quarter of 2019, versus losses of SAR 16.69 million in Q3-18.

The company’s revenues plunged by 20% to SAR 64.6 million in Q3-19, compared to SAR 80.8 million in the same quarter of 2018, according to a filing to the Saudi Stock Exchange (Tadawul) on Sunday.

For the first nine months of 2019, Al Sorayai deepened its losses by 468%, suffering SAR 81.64 million, from SAR 14.37 million in the same period of the prior year.

The company generated SAR 182.39 million in revenues during the nine-month period ended September, 40% down from SAR 304.78 million in the same period a year ago.

By the end of September, loss per share recorded SAR 3.97, compared to SAR 0.64 in September 2018.