Sadafcos Q3 profit grows 21%

Riyadh – Mubasher: Saudia Dairy and Foodstuff Company (Sadafco) reported its interim financial results for the third quarter of 2019.

Net profits after zakat and tax levelled up by 20.9% to SAR 65.12 million in Q3-19, compared to SAR 53.83 million in Q3-18, according to the firm’s statement to the Saudi Stock Exchange (Tadawul) on Monday.

The company generates SAR 521 million in revenues during the three-month period ended September, from SAR 476.62 million in the corresponding period in the prior fiscal year.

In six months, Sadafco’s net profits increased by 18.46% to SAR 123 million, versus SAR 103.8 million in the same period of the previous year.

Total revenues of the Saudi firm grew by 13.4% to SAR 1 billion in the six-month period ended September, from SAR 886.7 million in the same period a year ago.

It is worth mentioning that Sadafco’s fiscal year starts in April and ends in March.

Source: Mubasher

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