Al Abdullatif 2Q16 earnings drop 78% Y-o-Y on lower revenue and higher costs
Al Abdullatif Industrial Investment Company's [2340.SE] 2Q16 earnings dropped 78% Y-o-Y to SAR12.2mn, mainly due to a decline in sales revenue, as well as an increase in CoGS and G&A expenses. Gross profit for the quarter fell 65% Y-o-Y to SAR26.4mn, while operating profit declined 75% to SAR15.8mn. (Tadawul)
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