Al Jouf Agricultural Q2 Profit Rises 18% on Strong Industrial Sales

Al Jouf Agricultural Development Co. reported an 18% year-on-year rise in second-quarter net profit, reaching SAR 18.4 million, up from SAR 15.5 million a year earlier.

Operating profit jumped 44.8% to SAR 24.7 million from SAR 17 million in Q2 2024. Earnings per share rose to SAR 1.77, compared to SAR 1.62 in the same period last year.

The company attributed the profit growth to a SAR 42 million increase in sales, primarily driven by higher volumes in the industrial segment. This came despite a rise in selling, distribution, and administrative expenses, increased financing costs, lower other income, and unrealized losses from revaluation of investments at fair value through profit or loss.