Riyadh – Mubasher: Al Jouf Agricultural Development Company disclosed a net loss of SAR 6.4 million during the third quarter of 2019, against net profits of SAR 22.5 million in the corresponding quarter of 2018.

Revenues plunged by 46.9% to SAR 66.9 million in Q3-19, compared to SAR 126 million in Q3-18, according to the company’s statement to the Saudi Stock Exchange (Tadawul) on Thursday.

For the first nine months of 2019, the company’s net profits slid by 94.8% to SAR 1.26 million, from SAR 24.65 million in the same period of the previous year.

Al Jouf generates SAR 161 million in revenues by the end of September, 34.9% lower from SAR 247.8 million in the same period a year ago.