Riyadh – Mubasher: Abo Moati for Bookstores Company registered a 37.2% annual fall in net profits during the third quarter (Q3) of fiscal year (FY) 2020/2021.

Net earnings for the three-month period ended in December 2020 totalled SAR 3 million, according to a bourse disclosure on Tuesday.  

The drop in quarterly profits is due to lower annual revenues by 19.2%, ascribed to the precautions taken to contain the coronavirus spread. The revenues stood at SAR 68.39 million.

In the first nine months of FY20/21, the profits netted SAR 4.5 million, a yearly drop of 55.5%.