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SADAFCO logs lower profits at SAR 54m in Q2-21/22

SADAFCO logs lower profits at SAR 54m in Q2-21/22
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SADAFCO
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-0.24% 165.00 -0.40

 Riyadh – Mubasher: Saudia Dairy and Foodstuff Company (SADAFCO) recorded net profits after Zakat and tax worth SAR 53.7 million in the second quarter (Q2) of fiscal year (FY) 2021/2022.

This marked a decline of 23.5% from SAR 70.26 million in Q2-20/21, according to the financial results on Thursday.

Sales went down 0.9% to SAR 530.07 million in the July-September 2021 period from SAR 535.39 million in the corresponding three months last year.

On a quarterly basis, the net profits in Q2-21/22 were 41% higher than SAR 37.99 million in Q1-21/22, and the revenues increased by 7.6% from SAR 492.4 million.

As for the first half (H1) of FY21/22, SADAFCO posted 34.8% lower profits at SAR 91.7 million, compared to SAR 140.79 million in H1-20/21.

Earnings per share amounted to SAR 2.88, compared to SAR 4.4.

The sales also decreased by 7% to SAR 1.02 billion during the first six months of FY21/22 from SAR 1.1 billion.