The results of the Saudi Dairy and Foodstuff Company, SADAFCO, for the fiscal year ending on March 31, 2023, revealed an increase in net profits by 48.51%, compared to the previous year.
According to the company's financial results on the Saudi financial market, Tadawul, today, Thursday, the net profit after zakat and tax rose to 310.46 million riyals, compared to 209.05 million riyals, the company's profits in the fiscal year ending in March 2022.
The company explained that the increase in net profit came as a result of the increase in sales for all items and sales channels, in addition to the increase in the gross profit margin, despite the increase in the prices of raw materials and costs of logistics services. This is the result of judicious inventory purchasing, appropriate pricing decisions, and efficient manufacturing processes.
The company indicated that the increase in net profits is also due to a decrease in selling and distribution expenses, and general and administrative expenses. As a result of continuous focus on expense control.
The fiscal year of the Saudi Dairy and Food Products Company, SADAFCO, ends at the end of March of the Gregorian year.
