L’azurde posts 151% net profit increase in Q2 of 2019

L’azurde Jewelry Saudi Arabia reported net profit increased by 151% in the second quarter compared to the same period last year to reach SAR 12.2 million. The highest growth rate recorded by the company during the previous 9 quarters, which contributed to the increase of the Group's profits in the first half of the year by 73.8% to SAR 24.1 million. The growth in the net profit was due to the increase in the operating income of the company during the first half of 2019, which amounted to 285.8 million riyals, an increase of 37.5% and the total profit as a percentage of operating income by 2.0% as a result of cost saving in general, resulting in reduced production costs.