Riyadh – Mubasher: Electrical Industries Co's (EIC) stock declined 9.15% to SAR 19.46 on Monday on the Saudi Stock Exchange (Tadawul) by 1:50 pm Saudi time, registering its sharpest losses in more than two years and a half, or since 20 January 2016.
After dropping during Monday’s trading session, the stock also recorded its lowest level in 2018. EIC’s stock saw trading of 439,400 shares, with a liquidity of SAR 8.6 million.
Earlier on Monday, EIC stated that net profits dropped 82.26%, reaching SAR 1.94 million in the second quarter of 2018, compared to SAR 10.92 million during Q2-17.
Profits levelled down 40% to SAR 12.94 million during the first six months of 2018, from SAR 21.57 million in H1-17.
In the meantime, the main Tadawul All Share Index (TASI) fell 7.5 points, or 0.09%, reaching 8,299.93 points.
