Riyadh- Mubasher: Saudi Vitrified Clay Pipe on Thursday reported a 27% decrease in net profit to SAR 23.9 million ($6.37 million) in the second quarter of 2016 from SAR 32.8 million ($8.82 million) in Q2-15.
The decline in net profit was attributed to lower sales and higher sales costs and operating expenses, according to a bourse filing.
The Saudi-listed company’s net profit edged up 0.73% to SAR 55.2 million in the first six months of 2016 from SAR 54.8 million in the year-ago period.
