Riyadh – Mubasher: Emaar The Economic City on Thursday said its net profits slid 85.4% year-on-year in the second quarter of 2017.
Net profits stood at SAR 35 million in Q2-17, compared to SAR 239 million in Q2-16, according to a bourse filing.
The Tadawul-listed firm attributed the decrease its year-on-year net profits to the drop in residential sales.
At the level of the first six months of 2017 net profits levelled down 92.9% to reach SAR 16 million, compared to SAR 225 million in H1-16.
The stock fell 2.26%, closing at SAR 14.24 on Thursday.
