«Wafra» Raises Profits to Over 7 Million Riyals by the End of 2013
Riyadh-Amlak
Wafra Industrial and Development Company increased its profits to 7.1 million riyals, equivalent to 0.36 riyals per share, by the end of 2013, compared to profits of 5.8 million riyals achieved during the same period in 2012.
The company attributed the increase in profits during the current period compared to the same period of the previous year to an 81% increase in sales, as well as a decrease in estimated zakat for the period compared to the previous year.
The company also attributed the increase in profits during the current quarter compared to the same quarter of the previous year to a 151% increase in sales and an increase in other income.
Meanwhile, the company attributed the increase in profits during the current quarter compared to the previous quarter of the current year to a decrease in the estimated zakat for the current period compared to the previous period.