Riyadh – Mubasher: Herfy Food Services Company reported a 3.96% decline in net profits for 2019, as shown by its annual financial results.

Net profit after zakat and tax recorded SAR 196.1 million last year, compared with SAR 204.2 million in 2018.

The decrease in net profit is due to the increase of the selling and marketing costs, as well as the general and administrative expenses, according to the company’s statement to the Saudi Stock Exchange (Tadawul).