NADEC Profits Jump 50.6% in Q3 to SAR 113.3 Million

National Agricultural Development Co. (NADEC) reported on Sunday a 50.6% rise in net profit for the third quarter, reaching 113.3 million riyals, up from 75.2 million riyals in the same period last year, following the announcement of preliminary financial results for the nine months ending Sept. 30, 2024.

Operating profit rose 8.17% to 99.8 million riyals, compared to 92.2 million riyals a year earlier.

Total equity, excluding non-controlling interests, surged 166% to 3.9 million riyals for the nine-month period, up from 1.4 million riyals in the previous year.

Earnings per share for the current period were 1.08 riyals, compared to 1.13 riyals a year earlier.