Riyadh - Mubasher: Saudi Vitrified Clay Pipes Company (SVCP) achieved SAR 2.86 million in net profits over the second quarter (Q2) of 2020, 368.9% more than SAR 610,000 in the same quarter a year ago.

The Tadawul-listed firm ascribed the growth in Q2-20 profit to higher sales and lower sales costs, according to a bourse filing on Wednesday.

Revenue for the three-month period ended 30 June soared by 19.1% to stand at SAR 28.03 million from SAR 23.53 million in the prior-year period.