The profits of “Al-Omran” fell by 15% in the third quarter, due to the pressure of two factors

The preliminary financial results of Al-Omran Company for Industry and Trade showed a decrease in earnings for the third quarter of 2021 of 15.17% to 1.63 million riyals, compared to profits of 1.92 million riyals in the corresponding period last year.

The company’s profits decreased 62.9% in the third quarter, compared to the profits made in the previous quarter of 4.37 million riyals.

The company stated in a statement to “Saudi Tadawul” today, Sunday, that the reason for the decrease in net profit for the quarter in course, compared to the same quarter of the previous year, is due to the increase in the cost of sales and the increase in financing costs.

During the first nine months of 2021, the company’s profits increased 145% to 8.824 million riyals, compared to 3.58 million riyals in the same period last year.

The company’s sales in the first nine months of the year decreased by 1.6% to 114.44 million riyals, compared to 116.341 million riyals in the comparable period of the previous year.

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