Al Jouf Agricultural’s net profits decrease 60.5% in H1

Revenues decreased by 0.8%

Riyadh – Mubasher: Al Jouf Agricultural Development Company reported a 60.46% plunge in net profits after Zakat and tax to SAR 7.28 million in the first half (H1) of 2021 from SAR 18.41 million in H1-20.

Earnings per share stood at SAR 0.24 in H1-21, compared to SAR 0.61 in H1-20, according to a bourse filing on Wednesday.

Revenues decreased by 0.8% annually to SAR 117.06 million in H1-21 from SAR 118.09 million in H1-20.

During the April-June 2021 period, the company posted a plummet of 70.9% in net profits to SAR 3.44 million from SAR 11.87 million in the second quarter (Q2) of 2020.

Revenues also declined by 22.6% to SAR 55.7 million in Q2-21 from SAR 71.96 million in Q2-20.

Quarter-on-quarter (QoQ), the net profits in Q2-21 were 10% lower than SAR 3.83 million in Q1-20, and the revenues shrank by 9% from SAR 61.36 million.

Source: Mubasher

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