Saudia Dairy and Foodstuff third-quarter profit falls 5.7% year-on-year
Saudia Dairy and Foodstuff Co. posted a net profit drop of 5.7% year-on-year to 64.17 million riyals ($17.11 mln) for its third-quarter that ended Dec 31.
SADAFCO reported in a bourse filing on Thursday (Jan 21) it was affected by lower sales and lower gross margin that was partially offset by lower expenses.
Sales in the third-quarter dropped 1.3% to 482.02 million riyals.
KEY STATS FOR SADAFCO Q3 2020 vs. Q3 2019:
- Net profit 64.2 mln riyals vs. 68.06 mln riyals
- Sales/revenue 482.02 mln riyals vs. 488.47 mln riyals
- Consumer milk sales down 8.1%
- Tomato paste sales increased 1%
- Ice-cream sales increased 17.9%
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