Fesh Fash profits up 10% to SR2.3 mln in H1‎

Fesh Fash Snack Food Production Co. revealed that the net profit after zakat and tax in the first half rose to 2.3 million riyals, compared to 2.04 million riyals in the same period last year, at a rate of 10%. This came after today’s announcement of the preliminary financial results for the period ending in 06-30 2022 (six months).

The operational profit amounted to 2.3 million riyals in the first half, compared to 2.1 million riyals in the same period of the previous year, an increase of 6.3%.

The total shareholders’ equity “without minority rights” amounted to 15.1 million riyals in the 6-month period, compared to 14.6 million riyals in the same period last year, an increase of 3.2%.

Earnings per share in the current period reached 2 riyals, compared to 1.81 riyals in the same period last year.

The reason for the increase in net profit during this period compared to the previous period is due to:

1- Reduction of general and administrative expenses by 19.15%

2- Reduction sales and marketing expenses by 10.91%

3- Reduction operating costs by 6.27%

4- Increase the selling prices of some of the company’s products by 11.75%