Back to profits, but there is still a long way to go
Revenues recorded during Q3 2016 declined by 17.5% to SAR378.9m, bringing revenues registered since the beginning of the year to SAR1.136bn, a 16.2% yoy drop. The net result, standing at SAR5.09m (vs. SAR-2.273m in Q3 2015), even if it has deteriorated on a qoq basis, is considered as good news for the company since it has brought the net result for the period to SAR25.19m vs. SAR10.27m in 9M 2015.Takween Advanced Industries is engaged in the production of disposable polystyrene cups, lids and other plastic related products; production of non-woven plastics; and production of PET (Polyethylene Terephthalate) pre-forms.
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