Riyadh – Mubasher: National Gypsum Company achieved a net profit of SAR 17.71 million during the first quarter (Q1) of 2020, versus losses of SAR 3.51 million for the corresponding period of the previous year.

Profits per share amounted to SAR 0.56, against losses of SAR 0.11 per share in Q1-19, according to a statement to the Saudi Stock Exchange (Tadawul).

Revenues more than tripled, rising by 211% to about SAR 35 million, up from SAR 11.25 million in the first three months of 2019, showed the company’s interim financial results.

This resulted from an increase in net sales by 210.98%, while administrative costs and marketing expenses decreased by around 7%.