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  • 05-02-20

    KSA: Arabian Centres Co's net profit decreases by 0.52 percent

    (MENAFN) In comparison with SAR 548.7 million in 2018, Arabian Centres Co. made a net profit after zakat and tax of SAR 545.8 million for the 9 months ended December 31, 2019, with a drop of 0.52 percent yearly.


    The decline happened because of a change in the group's accounting strategy for leases in line with IFRS 16 needs and a drop in finance costs, according to a statement by the company.


    Net profit after Zakat and tax dropped by 59.9 percent in the 3rd quarter of 2019/2020 on improved interest expense on rent liabilities.


    Net profit fell by 46.9 percent in order.

    MENAFN0502202000450000ID1099655395

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