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Saudi SPIMACO posts 36pct increase in Q2 profits
(MENAFN) Saudi Pharmaceutical Industries and Medical Appliances Corp posted a 35.76 percent increase in profits for the second quarter of this year.
Moreover, net profits reached SAR53.42mn in the cited quarter of the year from SAR39.35mn in the same period of 2016.
However, the Tadawul-listed firm's profits dropped 46.55 percent in the cited period compared to the prior quarter.
Additionally, the firm attributed the increase in profits to lower sales and lower administrative and general expenses by 33 percent each.
Moreover, net profits reached SAR53.42mn in the cited quarter of the year from SAR39.35mn in the same period of 2016.
However, the Tadawul-listed firm's profits dropped 46.55 percent in the cited period compared to the prior quarter.
Additionally, the firm attributed the increase in profits to lower sales and lower administrative and general expenses by 33 percent each.
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