Riyadh – Mubasher: Development Works Food (DWF) Company has turned to a net loss after Zakat and tax of SAR 3.9 million in the first quarter (Q1) of 2020, against net profits of SAR 1.5 million in the same period last year.

Revenues came at SAR 26.3 million in the first three months of 2020, down by 14.6% from SAR 30.8 million in Q1-19, according to a bourse statement on Tuesday.

The turn to losses in Q1-20 is attributed to lower sales and higher rents and consumption expenses. The company was also affected by the precautionary measures imposed by the government against the coronavirus (COVID-19) pandemic.