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Al Jouf Agricultural profit rises 97% in Q3 on higher sales

2018-11-05 11:14:12 GMT (Economies.com)
 

Al Jouf Agricultural Development Company on Monday posted a 96.6% increase in net profit for the third quarter of 2018, according to the company’s filing to Tadawul.

 

The company’s Q3 net profit amounted to SAR 22.6 million, up from SAR 11.5 million reported in the same period a year ago. Net operating profit also increased to SAR 26.9 million, from SAR 12.8 million in Q3-17.

The company attributed the profit increase in the third quarter to stronger sales with a rise of 10.71%, especially sales of olive oil, coupled with a fall in sale costs.

Q3 revenues increased to SAR 126.2 million, from SAR 114 million reported in the same period a year ago.

Meanwhile, financial results for the first nine months of 2018 showed SAR 24.7 million net profit, down 9.7 % year-on-year compared with SAR 27.3 million.

H1-18 net profit reached SAR 2.1 million, compared with SAR 15.8 million in H1-17.

 
 
 
  Symbol Last Change Chg.%
1.1311
0.0041
0.3629%
1.3316
0.0006
0.0481%
Tadawul
10810.60
-60.02
0.55%
22.910
-0.135
0.584%
68.716
-3.685
5.090%
72.22
-1.22
1.66%
1794.405
9.315
0.522%
 
 
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