RIYADH: Saudi Herfy Food Services Co.’s shares ended Wednesday in red, plunging 4 percent at SR43 ($11.47), after its half-year profit was down 7 percent to SR49 million.
The company’s net profit dropped from SR52 million in the same period last year, according to a bourse filing.
The decline in profit stems from the intense competition that led to a drop in sales, as well as an increase in operating costs and marketing expenses.
