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Saudi Vitrified Clay Q3 profit down 38%

Saudi Vitrified Clay Q3 profit down 38%
Revenues inched down by 0.95% annually in Q2-20.
SVCP
2360
4.78% 74.60 3.40

Riyadh - Mubasher: Saudi Vitrified Clay Pipes Company (SVCP) reported a 38.1% year-on-year (YoY) decline in profits during the third quarter (Q3) of 2020 at SAR 910,000 due to higher operating expenses.

Revenues inched down by 0.95% YoY in the three-month period ended on 30 September to reach SAR 28.09 million, according to a bourse disclosure on Sunday.

During the first nine months of the year, the profits leapt by 149.2% yearly to stand at SAR 9.17 million.