NADEC’s 2024 Profit Rises 156% to SAR 775 Million

The National Agricultural Development Company (NADEC) announced on Monday that its net profit increased by 156% to SAR 775 million by the end of 2024, compared to SAR 302 million last year. This came after the announcement today of the preliminary financial results for the duration ending on Dec. 31, 2024.

The operational profit increased by 14% to SAR 389 million by the end of 2024, compared to SAR 340 million last year.

The equity (after excluding non-controlling interests) in the current year increased by 20% to SAR 4.29 billion by the end of 2024, compared to SAR 3.59 billion last year.

The profits per share in the current year amounted to SAR 2.57, compared to SAR 1.77 last year.

The Company stated in a statement today on “Tadawul” that revenue for the current year grew by 0.73%, compared to last year, mainly due to sales of the new segment (protein) worth SAR 180.29 million. This increase was partially offset by a decrease in sales of the dairy and beverages segment by 3.59% and Agricultural segment sales by 28.50%.