Riyadh – Mubasher: Abo Moati for Bookstores Company reported a decrease in net profits for the three-month period ended on 31 December 2019 by 22.9% to SAR 4.78 million, compared with SAR 6.2 million for the same period a year earlier.
Profits decreased due to lower sales from the ink section, coupled with higher administrative and general expenses, as well as sales and distribution costs with the opening of new branches, the company said in a statement to the Saudi Stock Exchange (Tadawul) on Tuesday.
Meanwhile, for the nine-month period, between April and December of last year, net profit after Zakat and tax decreased by 18.97% to SAR 11.02 million, compared with SAR 13.6 million, on the back of lower sales and higher expenses.
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