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FINANCIAL NEWS
Saudi SADAFCO net profit grows 83.4 percent
02 May 2016
(MENAFN) The Saudi Dairy and Foodstuff Co. (SADAFCO) recorded an increase in its profits for the 12 months ending March 31.
Accordingly, the firm achieved a net profit of USD 21.32mn, an increase of 172 percent compared to the same quarter of 2015 at USD 7.72mn.
Moreover, the increase in profit was attributed to favorable commodity prices and a growth in sales of 9.7 percent compared to the same period last year.
In addition, the company was able to leverage the strength of its brands and capitalize on favorable global commodity prices to achieve its goals.
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