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FinancialNews


  • 26-01-20

    Saudia Dairy, Foodstuff Company's net profit increases

    (MENAFN) A net profit was reported by Saudia Dairy & Foodstuff Company (SADAFCO) after zakat and tax of SAR 191.1 million in the first 9 months of 2019, an increase of 21.4 percent yearly on higher sales and better ice cream seasonal sales.


    The 9-month figures were also boosted by making an additional income from its 76 percent-owned subsidiary Mlekoma's quarterly results.


    The 3rd quarter net profit after zakat and tax increased 27 percent yearly to SAR 68.1 million, driven by higher sales, lower discounts and production efficiency, regardless of raw materials cost inflation.


    Net profit increased 4.5 percent in comparison with Q2 2019.

    MENAFN2601202000450000ID1099603848

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