Riyadh – Mubasher: Fawaz Abdulaziz Alhokair Company reported a 40% increase in net profit during the fourth quarter (Q4) of last year, as shown by the company’s interim financial results for the mine-month period ending on 31 December 2019.

Net profit after zakat and tax in Q4-19 amounted to SAR 36 million, compared with SAR 25.7 million for the same period in the year before, as revenues increased by 4.56% or SAR 56.3 million.

For the nine-month period, net profit decreased by 16.68% to SAR 234.3 million, down from SAR 281.2 million a year earlier, as a result of a 2% decline in revenues and an increase in depreciation and amortization expenses by 194%.