The Saudi Dairy and Food Products Company (SADAFCO) recorded a 5.7% decline in profits for the third quarter ending in December 2020, to reach 64.173 million riyals, compared to 68.063 million riyals During the same period last year.
According to Arabiya Net, the company attributed this decline to lower sales and lower profit margins, which were partly offset by lower expenses.
And for the nine months, the company's profits grew 7.3% to 204.967 million riyals, compared to 191.097 million riyals during the same period last year.
she attributed this to the increase in sales, the lower cost of goods sold, and the lower spending on promotional activities, which were partially compensated for by the increase in costs related to Covid-19 by 12.5 million riyals Saudi and donations to the Health Endowment Fund amounting to 8.7 million Saudi riyals.
The company said that it continues to maintain its competitive position in the main market sectors, with the market share of milk drinks 28.2%, tomato paste 49.9% and ice cream 26.3% .
