Riyadh – Mubasher: Development Works Food (DWF) Company turned to a net loss of SAR 6 million during the first half (H1) of 2020, against a net profit of SAR 3.7 million in the corresponding period in 2019.

Revenues amounted to SAR 48.68 million in the January-June period, down 31.1% when compared to SAR 70.69 million in the year-ago period, according to a bourse statement on Tuesday.

The current-year financial results were attributed to a decline in the company's sales by 44%, ascribed to the precautionary measures taken by the government to contain the coronavirus pandemic that included the closure of branches and reducing branch working hours.

Meanwhile, the firm’s operating, general, and administrative expenses slumped.