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  • 09-03-20

    Saudi Advanced Industries Co. reports net profit of SAR 28.52 million

    (MENAFN) In comparison with SAR 37 million in the financial year of 2018, Saudi Advanced Industries Co. (SAIC) reported a net income after Zakat and tax of SAR 28.52 million for the financial year of 2019, which is a drop of 23 percent yearly.


    The plunge was attributed to lower income because of a drop in revenue from associates and higher general and administrative expenses (G&A).


    In comparison with a net income of SAR 7.13 million in 2018, Saudi Advanced Industries Co. reported a net loss after Zakat and tax of SAR 3.5 million in fourth quarter of 2019.

    MENAFN0903202000450000ID1099822670

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