Al Kathiri Holding Co. posted a net profit after zakat and tax of SAR 16.01 million for the fiscal year (FY) 2019, a rise of 72.1% year-on-year (YoY), as compared to SAR 9.3 million in FY2018.
The resulting profit was driven by increased sales value and the company’s contract with the Air Force, it said in a bourse statement.
Sales revenue also jumped 77.2% to SAR 89.46 million in FY2019.
The company also reported a net income of SAR 4.29 million in the fourth quarter of 2019, more than two-fold increase as compared to SAR 1.37 million in Q4 2018.
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