Riyadh – Mubasher: Aseer Trading, Tourism and Manufacturing Company’s (Aseer) net losses for this year’s third quarter (Q3) tumbled by 83.2% to SAR 5.4 million from SAR 32.1 million in the year-ago period.

The decrease in Q3-20 net loss was driven by higher gross profit, operating income, and other income, coupled with a slump in selling, distribution, general, and administrative expenses, according to a bourse disclosure on Tuesday.

Revenue for the quarter ended on 30 September 2020 went down by 15.1% annually to SAR 411.2 million.

During the January-September period, the losses grew by 3.7% yearly to SAR 8.5 million.