“Naqi Water” profits contracted by 65% to 3.5 million riyals in the third quarter
A company’s net profits have shrunk "Pure water" During the third quarter of the current year, by 65%, to 3.5 million riyals, compared to 10.1 million riyals in the same quarter of the previous year.
According to a statement by the company today, Thursday, "Saudi Arabia trading"The reason for the decrease in net profit during the current quarter is due to the decline in sales in the water sector. Despite the decrease in sales, the company maintained stability in the gross profit ratio thanks to controlling the cost of sales.
And in the first three quarters of 2025 (9 months), net profit declined by 58.7% to 11.9 million riyals, compared to 28.8 million riyals in the same period of the previous year.
The reason for the decrease in net profit during the current period compared to the similar period of the previous year is due to the decline in sales in the water sector and the increase in related operating expenses. By opening new branches as part of the expansion plan in the retail sector, and increasing the formation of the allowance for credit losses. Despite this, the company maintained the stability of the gross profit percentage thanks to controlling the cost of sales.
The company also attributed the decrease in net profit to recording non-operating profits in the similar period of the previous year resulting from the sale of a plot of land previously announced to all shareholders. This decrease was also supported by the expenses of the poultry sector, which is still under the company’s future expansion plan.
- For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Twitter
