Riyadh - Mubasher: Arabian Centres Company (ACC) registered a 13.6% annual drop in profits during the third quarter (Q3) ended on 31 December 2020 at SAR 95.6 million.

The lower quarterly earnings were ascribed to a decline in revenue and gross profits, coupled with a rise in advertisement and promotion expenses, and general and administrative expenses, according to a bourse filing on Thursday.

Revenue for the October-December period of the last year amounted to SAR 469.4 million, down 15.8% when compared to SAR 557.5 million in the year-ago period.

During the first nine months of fiscal year (FY) 2020/2021, the profits plunged by 34.1% annually to SAR 359.7 million.