The financial data of Al-Jouf Agricultural Company showed an increase in the company's profits in the first half of the current year by 139.4% compared to the same period of the previous year.
According to the company's results for the Saudi market (Tadawul) today, Thursday, profits reached 18.42 million riyals, compared to the profits of the first half of last year of 7.69 million riyals.
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The company said in a statement to the Stock Exchange that the increase in profits during the comparison periods is due to the increase in sales and the increase in the profit margin, despite the increase in other expenses as a result of recording a decrease in the value of fruit trees that reached 3.23 million riyals, recording a decrease in the value of palm trees by 3.05 million riyals, and an increase in the zakat expense as a result of recording zakat differences from previous years amounting to 3.78 million riyals.
The company recorded profits of 11.87 million riyals in the second quarter of this year, compared to profits of 1.16 million riyals for the same period last year, a significant increase of 919.9%.
(Amazon Fun Knowledge)
