Riyadh – Mubasher: Saudia Dairy and Foodstuff Company’s (SADAFCO) net profit for the third quarter (Q3) ended on 31 December 2020 reached SAR 64.2 million, down by 5.7% when compared to SAR 68.1 million in the same period in 2019.

The decline in quarterly profits was largely ascribed to lower sales and profit margin and was partially offset by a drop in expenses, according to a bourse filing on Thursday.

Revenue for Q3-20 fell by 1.3% on an annual basis to stand at SAR 482 million.

During the nine-month period ended last December, SADAFCO logged SAR 204.97 million in net earnings, a yearly rise of 7.3%.