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Baazeem Trading Q3 profit falls YOY

5974522 said its third-quarter normalized net income came to 55 halalas per share, a decline of 25.5% from 73 halalas per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 5.6 million riyals, a decrease of 24.7% from 7.4 million riyals in the prior-year period.

The normalized profit margin declined to 7.4% from 9.5% in the year-earlier period.

Total revenue decreased year over year to 75.4 million riyals from 77.2 million riyals, and total operating expenses increased 6.2% on an annual basis to 69.1 million riyals from 65.1 million riyals.

Reported net income decreased 33.5% from the prior-year period to 7.2 million riyals, or 71 halalas per share, from 10.9 million riyals, or 1.08 riyals per share.

s of Nov. 9, US$1 was equivalent to 3.75 Saudi Arabian riyals.Baazeem Trading Co.

5974522 said its third-quarter normalized net income came to 55 halalas per share, a decline of 25.5% from 73 halalas per share in the prior-year period.