Al-Jouf Agricultural profits jump 498% during Q3 to SR20 mln

The net profit after zakat and tax for Al-Jouf Agricultural Company jumped to SR20 million during the third quarter, compared to SR3.3 million in the same quarter of last year, at a rate of 498%.
This came after the announcement on Wednesday of the preliminary financial results for the period ending on September 30, 2022 (9 months).
The operational profit amounted to SR21 million in the third quarter, compared to SR5 million in the same quarter of the previous year, an increase of 297%.
The gross profit amounted to SR44 million in the third quarter, compared to SR19 million in the same quarter of the previous year, a growth of 132%.
The net profit after zakat and tax in the 9-month period amounted to SR42 million, compared to SR11 million in the same period last year, an increase of 295%.
Profits per share in the current period amounted to SR1.4, compared to SR0.35 in the same period last year.
The reason for the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is:
The increase in net profit for the current quarter of 2022 compared to a similar quarter last year due to the increase in sales and the improvement in profit margin, despite the increase in selling and distribution cost, the increase in general and administrative costs, and the increase in Zakat expense.
The reason for the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is:
The increase in net profit during the current quarter compared to the previous quarter of 2022 due to the increase in sales, despite the increase in selling and distribution cost, the increase in general and administrative costs and the decrease in other revenues.
The reason for the increase (decrease) in the net profit during the current period compared to the same period of the last year is:
The increase in net profit for the current period compared to a similar period last year due to the increase in sales, the improvement in profit margin, despite the increase in selling and distribution cost, the increase in general and administrative cost, the decrease in other revenues and the increase in Zakat expense.
Certain comparative figures for the previous period have been reclassified to conform to the way they are presented for the current period.