Al-Manajem Food Company achieved a 65.5% increase in net profits for the fourth quarter of 2021, bringing it after zakat and tax to 46 million riyals, compared to about 27.8 million riyals in the same quarter of 2020.
According to Arabia Net, the mine's net profit fell on a quarterly basis by 12.7%, compared to 52.7 million riyals in the third quarter of 2021.
The company said in a statement, that the net profit in the fourth quarter of 2021 increased on an annual basis, due to a revenue growth of 9.2% to reach 679.5 million riyals, and an increase in gross profit by 18.1%, due to the improvement in selling prices. in some major class groups.
This is also due to the decrease in selling and distribution expenses by 6.8% to reach 57.6 million riyals as a result of the decrease in marketing expenses compared to the same quarter of the year 2020.
During the year 2021, the net profit of the food mine fell by 27.7% after zakat and tax to 166.1 million riyals, compared to 229.7 million riyals, net profit for the year 2020.
