Riyadh – Mubasher: The net losses of Naseej International Trading Company totalled SAR 17.32 million in the second quarter (Q2) ended 30 June 2020, posting a 65% year-on-year (YoY) decrease.

The drop in losses was helped by an improvement in product costs and operating expenses, combined with a higher gross profit, according to a bourse disclosure on Monday.

Revenues slumped by 29.9% in the April-June period in 2020, reaching SAR 36.98 million from SAR 52.78 million in the year-ago period.

Over the first half (H1) of the year, the losses tumbled by 56.49% YoY to stand at SAR 36.86 million.