NADEC posts 149.2% profit leap in first quarter to SAR 38 mln

The National Agricultural Development Company announced its net profits after Zakat and Tax of SAR 37.6 million during the first quarter compared to a net profit of SAR 15.12 million for a similar quarter last year; this came upon an announcement of the interim financial results for the period ended 31 March 2023 (Three Months).

The operating profit for the 1st quarter reached SAR 57.23 million compared to SAR 25.54 million for the similar quarter last year, with an increase of 124%.

The shareholders’ equity (no minority equity) was SAR 1.3 million in the three months period compared to SAR 1.2 million as of 31 March 2022 for a similar period last year with an increase of 10%.

The earnings per share for the current quarter is SAR 0.37 compared to earnings per share of SAR 0.15 for a similar period last year.