By Glen Carey
Oct. 11 (Bloomberg) -- Saudi Advanced Industries Co., a Riyadh-based company that manufactures airplane parts, said third-quarter profit advanced 55 percent on gains from investments and lower costs.
Net income increased to 4.75 million riyals ($1.27 million), from 3.07 million riyals a year earlier, the Riyadh-based company said today in a statement posted on the Web site of the Saudi bourse. The company didn't provide earnings per share for the third quarter.
Nine-month net income rose to 17.5 million riyals, or 0.40 riyal a share, from 10.4 million riyals, or 0.24 riyal a share, the company said.
To contact the reporter on this story: Glen Carey in Dubai at gcarey8@bloomberg.net.
Saturday, October 11, 2008
Saudi Advanced Third-Quarter Net Rises 55% on Investment Gains
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