Arabian Aramco Total Services posts SAR 709 mln profit for 9M 2017

Arabian Aramco Total Services Co. reported a net profit of SAR 708.7 million in the first nine months of 2017, a 33.3 percent year-on-year (YoY) decline attributed to lower sales margins during the first six months of the year, as well as higher financing costs.

The company swung to a net profit of SAR 193.3 million for the third quarter, versus net losses of SAR 52.1 million in the year-ago quarter, due to higher sales margins.

Profit for the period more than doubled on a sequential basis.