Sadr Logistics profits jump 40% on 2021

Sadr Logistics Co. reported profit surge of 40% after zakat and tax to SR 4 million in 2021 from SR 3 million in 2020.

The Saudi company said that its operational profit soared 65% to SR 6 million last year from SR million the year before.

Moreover, gross profit rose 45% to SR 21 million in 2021 from SR 15 million in 2020, while earning per share (EPS) declined to SR 0.96 compared with SR 1.03 a year earlier.

Sadr Logistics attributed its higher profit to the increase in sales of 35% in 2021 compared to 2020 in the main sectors, Steel, Wooden and logistics, as the company expanded in the logistics sector, and the financial impact of the logistic services contract with the Supreme Foods Processing Company LTD (One of the TANMIAH companies), where the revenue from the net investment in the contract was recognized During the current year.