RIYADH: Listed Saudi jewelry maker L’azurde achieved a net profit of SR7.8 million ($2 million) in the third quarter of 2021, compared to a loss of SR18.8 million in the same period last year.
According to its latest company filing, reducing working capital pushed the company into profitability, CEO of L’azurde, Selim Chidiac said.
“Online sales currently represent about 11 percent of total sales, which the company aims to increase to 20 percent,” Chidiac said in an interview with CNBC Arabia.