The profits of the Saudi Dairy and Food Products Company, SADAFCO, after zakat and tax decreased by 19.87% in the fiscal year ending March 31, 2022, to 209.05 million riyals after zakat and tax, compared to about 260.89 million riyals in the previous fiscal year.
According to Arabiya Net, SADAFCO said in a statement on Saudi Tadawul, today, Tuesday, that its performance is witnessing a remarkable improvement from quarter to quarter, as the fourth quarter recorded the strongest result for this year, due to strong sales, price increases and efficiency gains.< /p>
And added that it achieved a satisfactory net profit margin of 9.6%, amounting to 209 million riyals (compared to 12.4%, amounting to 261 million riyals for the previous year), which was achieved despite the negative impact of the causes of large costs, which are mainly represented In the rise in the costs of main raw materials, the rise in the costs of domestic and international logistics services, and the decrease in the purchasing power of consumers due to the value-added tax of 15% for the entire 12-month period compared to 9 months last year.
SADAFCO's sales increased by 3.08% in the last fiscal year to about 2.17 billion riyals, compared to about 2.1 billion riyals in the previous fiscal year.
