Tabuk Agricultural profits jump by 2.1 % during Q3 to SAR 128.5 mln

Tabuk Agricultural Company recorded a net profit during the third quarter after zakat and tax of SAR 128.5 million, compared to SAR 5.8 million in the same quarter of last year, at a rate of 2.1%. This came after today’s announcement of the preliminary financial results for the period ending September 30, 2023 (9 months).

The operating loss in the third quarter amounted to SAR 12 million, compared to SAR 2 million in the same quarter of the previous year

Net profit after zakat and tax during the 9-month period amounted to SAR 105.8 million, compared to a loss of SAR 20.5 million in the same period of the previous year.

Earnings per share in the current period reached SAR 2.68, compared to a loss of SAR 0.57 in the same period last year.

According to the Company, the reason for the increase in net profit is the increase in the group’s share profit of its investments in companies using equity method.

The reason for the decrease in net losses and realising net profit is the increase in the revenues and the increase in the group’s share profit of its investments in companies using the equity method.

The reason for the decrease in net losses and realising net profit is the increase in the group’s share profit of its investments in companies using the equity method.