SADAFCO’s profits decrease 46% in Q1

Sales shrank by 13%

  
A Saudi trader monitors stock information at ANB Bank in Riyadh, Saudi Arabia December 15, 2020.

A Saudi trader monitors stock information at ANB Bank in Riyadh, Saudi Arabia December 15, 2020.

REUTERS/Ahmed Yosri
Riyadh – Mubasher: Saudia Dairy and Foodstuff Company (SADAFCO) recorded net profits after Zakat and tax worth SAR 37.99 million during the first quarter (Q1) that ended on 30 June 2021, lower by 46% than SAR 70.53 million in the same period a year ago.

Earnings per share stood at SAR 1.19 million in Q1 of fiscal year (FY) 2021/2022, compared to SAR 2.2 in Q1-20/21, according to the initial income statements on Thursday.

Sales shrank by 13% to SAR 492.4 million in Q1-21/22 from SAR 565.99 million in Q1-20/21.

On a quarterly basis, SADAFCO’s net profits in the April-June 2021 period were lower by 32% than SAR 55.92 in Q4-20/21, which ended on 31 March this year. The sales also declined by 5.6% from SAR 521.98 million.

It is worth noting that during FY20/21, the company recorded a net profit after Zakat and tax worth SAR 260.89 million.

Source: Mubasher

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