Net profit came in at SAR24 million in 4Q16, representing an 84.36% – or SAR129.5 million – fall on the previous year.
Quarter-on-quarter net profit was also down substantially from SAR97.2 million in 3Q16 – a fall of 75.31%.
Sales revenue for the quarter was SAR240.1 million, compared to SAR415 million in 4Q15 – a fall of 42.1%. Sales for the year were SAR1.256 billion , compared to SAR1.642 billion in 2015, a decline of 23.5%.
In addition, the company reported a SAR15 million writedown on an associate company in Jordan, the announcement said.
