Riyadh – Mubasher: The Saudi Industrial Development Company (SIDC) returned to net profits of SAR 5.1 million during the third quarter (Q3) of 2020, against net losses of SAR 4.3 million in the year-ago quarter.

The Tadawul-listed firm realised non-operating revenues during the quarter, boosting the turn to profits, according to a stock exchange filing on Tuesday.

Revenues reached SAR 39.7 million in Q3-20, down by 13.7% when compared to SAR 46 million in Q3-19.

During the first nine months of 2020, the company’s losses dropped by 83.3% yearly to SAR 500,000.