Riyadh – Mubasher: Anaam International Holding Group narrowed its net losses after Zakat and tax by 88.2% during the first quarter (Q1) of 2020, as shown in the company’s interim financial statements.

The losses came at SAR 498,000 in Q1-20, compared to SAR 4.22 million in the same period in 2019, according to a bourse disclosure on Thursday.

The drop in Q1-20 losses was due to an operating profit of SAR 1.3 million, against an operating loss of SAR 2.6 million, backed by higher revenues and sales by 29.4%, as sales from the agricultural sector surged by 170%, while sales costs decreased by 61%.

Meanwhile, revenues for Q1-20 stood at SAR 3.3 million when compared to SAR 2.55 million.