Al-Jouf Agricultural Company achieved a net income of 21.35 million riyals during the year 2020, compared to losses of 20.8 million riyals in 2019.
According to Arabiya Net, the company said in a statement that the shift to achieve profits is mainly due to the increase in the total sales profit compared to the previous year, which positively affected the increase in operating profit, in addition to The recognition of a net gain of 25.46 million riyals resulting from addressing the impact of ownership of living land, as well as the decrease in the value of the decline recorded in property, equipment and vital assets, despite the increase in selling and distribution expenses, general and administrative expenses, and zakat expense to record zakat differences during the current year related to previous years. / p>
Total profit amounted to 64.29 million riyals in 2020, compared to 40.49 million riyals in 2019, an increase of 58.8%.
while the value of sales reached 223.2 million riyals in 2020, compared to 224.45 million riyals in 2019, a decrease of 0.55%.
The Al-Jouf Agricultural Company has turned to achieve a net profit after zakat and tax in the third quarter of this year of 7.65 million riyals, compared to net losses of about 6.43 million riyals in the quarter The third of 2019.
In the first nine months of this year, the net profit of Al-Jouf increased by 1965.5% to reach 26.07 million riyals, compared to a net profit of about 1.26 million riyals in the same period from Last year.
