Arabian Aramco Total’s H1 profit falls 70% on lower sales margins

Arabian Aramco Total Services Co.’s net profit for the first half of 2017 fell 70 percent year-on-year (YoY) to SAR 315,303 on lower sales margins, the company said in its financial statement to Tadawul.

The company’s net profit for Q2 fell by 83 percent YoY to SAR 93,736 on lower sales margins on higher financing costs and an overall market slowdown. When compared to the previous quarter, Q2 net profit tumbled 60 percent from SAR 233.6 million.