SIIG Q2 Profits Drop 69% to SAR 20 Mln

Saudi Industrial Investment Group (SIIG) announced on Thursday that its net profit dropped 69% to SAR 20 million in the second quarter, compared to SAR 64 million for the same period last year.

Operational profit fell to SAR 13 million, down from SAR 62 million in the year-earlier quarter, a decline of 79%.

Net profit for the current six-month period reached SAR 38 million, compared to SAR 92 million for the same period last year, a decrease of 59%.

Profits per share for the period amounted to SAR 0.05, down from SAR 0.12 for the same period last year.