The reason for the decrease in profits during the current period, according to what the company stated, is due to the decrease in the value of the assets of the agricultural sector and this reduction had an impact on the decrease in net profit for the current year by SR 52.67 million.
In addition to general and administrative expenses for the current year by 18.83% compared to the previous year, due to the increase in professional and consulting expenses that the company needs.
As a result of the decrease in the amount of receivables by SR 6.68 million, an increase of 6.15 million Saudi riyals from the previous year, where the effect of the loss of decrease in receivables for the past year on the net profit amounted to SR 0.53 million only .
In addition to all of this, the percentage of profits resulting from other operating activities for the current year decreased by 92.55% as a result of the presence of poultry rooting profits within the other revenues from the previous year, which indicates the reason for the decline in other operating profits for this year. p>
Also, the decline in operating profit for the current year compared to the same as in the previous year increased by 25.97%, a role in the decrease in profits in general and the increase in financing expenses and bank facilities for the current year by 12.82% compared to the previous year
It is mentioned that the total profit of Nadec increased by 6.02% due to the increase in sales as well as the result of raising operational efficiency and reducing production cost, which had a positive effect in increasing the overall profit and by a greater percentage of the increase in sales. < / p>
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