Development Works For Food Co. reported a net profit after zakat and tax of SAR 3.7 million for the first half of 2019, an 8.1 percent year-on-year (YoY) decline on higher general and administrative (G&A) expenses driven by higher government fees.
|Gross Income||7.83||11.43||45.9 %|
|Operating Income||4.22||3.37||(20.2 %)|
|Net Income||4.03||3.70||(8.1 %)|
|EPS (Riyal)||1.61||1.48||(8.1 %)|
The company’s net profit in Q2 2019 fell 16.6 percent YoY to SAR 2.24 million due to higher G&A expenses.
On a sequential basis, Q2 2019 net profit rose 54 percent compared to the previous quarter, attributed to a 30 percent YoY increase in revenues.