The financial statements of the Saudi Dairy and Food Products Company (SADAFCO) showed a decline in the company's profits in the six months ended September 30, 2021, by 34.9%, on an annual basis.< /p>
According to the company's results for the Saudi market (Tadawul), today, Thursday, the profits for the period amounted to about 91.7 million riyals, compared to profits of 140.79 million riyals for the same period in 2020.
The company's profits in the second quarter ending on September 30, 2021 amounted to about 53.7 million riyals, compared to 70.26 million riyals, profits for the same period in 2020, a decline of 23.6% .
The company explained that the results were affected by some negative factors, which see the fading of some factors, including the return of attendance to schools, the easing of precautionary measures against the Corona virus, and the decrease in the irrational behavior of the opponent, All of this has a positive impact in achieving better business results.
SADAFCO expects raw material prices to remain high in 2022, while the cost of global logistics will remain challenging.
