Riyadh – Mubasher: Takween Advanced Industries Company turned profitable in the second quarter (Q2) of 2020, achieving earnings of SAR 10.03 million, versus losses of SAR 13.03 million in the same quarter a year earlier.

Revenues for the period ended on 30 June 2020 fell by 8.2% annually to SAR 292.720 million, according to a statement to the Saudi Stock Exchange (Tadawul) on Wednesday.

The positive Q2-20 results were helped by lower sales costs and a decrease in administrative and general expenses as well as financing costs. On the other hand, sales revenues and other income retreated whereas selling and marketing expenses increased.