Higher costs, drop in sales hit Al-Babtain’s Q1 profit, says chairman

14/05/2017 Argaam Special

Al-Babtain Power & Telecommunication Co.’s net profit for the first quarter declined 2 percent year-on-year (YoY) due to higher costs along with a 14.4 percent YoY drop in sales amid weak demand, chairman Ibrahim Al Babtain, told Argaam on Sunday.

 

Meanwhile, he described the 2 percent YoY decline as “not significant”.

 

The company reported a net profit of SAR 39.1 million for Q1 2017. 

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