The annual financial statements of the Saudi Dairy and Foodstuff Company (SADAFCO) showed the company's profits increasing by 22.7% on an annual basis.
According to the results of the company for the Saudi market (Tadawul), the profits for the fiscal year ending March 31, 2020 amounted to about 265.11 million riyals, compared to profits of 216.11 million riyals for the same period of 2019.
The company said that the increase in profits during the comparison periods is due to increased sales and profit margins.
She explained that net milk sales increased by 14%, ice cream increased by 15%, and tomato paste by 6%, which contributed to the overall increase of the overall percentage by about 12%. Driven by growth in sales for all channels.
SADAFCO indicated that the increase in milk sales was driven primarily by the granting of lower discounts (the same high discount rate, with lower acute discounts), which were seen in the sector. p>
