Nama announced its 1Q19 financial results, showing net loss of SAR2.219mn (vs. net profit of SAR28.164mn in 1Q18). Gross profit came in at SAR26.624mn (-49% Y-o-Y), while operating profit was stated at SAR6.461mn (-82.4% Y-o-Y). Revenues were SAR148.26mn (-18.5% Y-o-Y). The company highlighted that the net loss is due to lower sales volumes and average selling prices as a result of increased in supply globally.
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