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FINANCIAL NEWS
SADAFCO net profit up 27% in Q1
19 Jul 2011
(MENAFN) Saudia Dairy & Foodstuff Company (SADAFCO) STATED ON Tadawul’s website that the company’s net profits for the first quarter increased by 27 percent to USD7.3 million, compared to USD5.8 reported in the same quarter of the previous year, reported Arab News.
Even though the financial results featured a year-on-year increase, the company had a quarter-on-quarter decrease in profits at 16 percent.
Earnings per share (EPS) for first three months in 2011 is USD0.22 compared to USD0.18 for the same period in 2010, up by 27 percent.
The company’s gross profit hit USD28.2 million, up from USD25.2 million reported in the same quarter of the previous year.
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