Administrative expenses fell 7% in the third quarter
Riyadh: The net profit of Baz Trading, which is traded on the parallel market, fell 7.3% in the third quarter of 2018 compared to the same period last year, and profits fell by 57.3% compared to the previous quarter.
According to Tadawul data on Thursday, net profit for the third quarter of the year fell to 366 million rials from 3.95 million rials in the same period last year.
The company attributed the decline in net profit to higher general and administrative expenses.
The company's profits in the first nine months of 2018 declined to 18.7 million rials, compared with 21.76 million rials in the same period last year, a decrease of 14%.
The share ended Thursday unchanged at $ 25.80.
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Source: Announced (Economy)