Development Works for Food Co. reported a net profit after zakat and tax of SAR 6.2 million for the first 9 months of 2019, a decrease of 2.7% year-on-year (YoY), on higher general and administrative expenses, government fees and expenses.
|Gross Income||12.74||16.82||32.0 %|
|Operating Income||6.69||5.76||(13.9 %)|
|Net Income||6.34||6.17||(2.7 %)|
|EPS (Riyal)||2.54||2.47||(2.7 %)|
The third quarter net profit rose 7% YoY to SAR 2.5 million, backed by higher sales.
On a sequential basis, Q3 2019 net profit jumped 9.8%, thanks to a 7.19% drop in general and administrative expenses.