Riyadh – Mubasher: Al Kathiri Holding Company achieved a 15.6% increase in net profit after Zakat and tax at SAR 4.19 million during the first quarter (Q1) of 2021, compared with SAR 3.62 million in the same period a year earlier.

Revenues surged 37.7% to SAR 35.2 million in Q1-21 from SAR 25.56 million in Q1-20, according to the initial financial results.

Earnings per share stood at SAR 0.46 in the first three months of 2021, compared with SAR 0.8 in the corresponding period in 2020.

On a quarterly basis, Al Kathiri Holding’s net profit in Q1-21 shrank 10% from SAR 4.68 million in the fourth quarter (Q4) of 2020. The company attributed this decline to high pre-operating costs for establishing the 3D panels factory Alian Industry Company in Sudair City for Industry and Business.

Revenues also decreased by 5% in the three-month period ended 31 March 2021 from SAR 37.07 million in Q4-20.