Raw material costs weigh on Sadafco’s profit in Q2-18/19

Riyadh – Mubasher: Saudia Dairy and Foodstuff Company (Sadafco) on Monday posted a 27.9% year-on-year profit decrease after calculating Zakat and Tax during the second quarter of fiscal year 2018/2019.

Sadafco’s profits retreated to SAR 53.83 million during the three-month period ended September, compared to SAR 74.74 million during Q2-17, according to a statement to the Saudi Stock Exchange (Tadawul).

The firm attributed the second-quarter profit decline to an increase in raw materials’ costs.

Sadafco’s fiscal year starts in April and ends in March.

During the first six months of 2018, the Saudi company’s profit tumbled 31.66% to SAR 103.86 million, from SAR 151.97 million during its H1-17.

Sadafco’s stock levelled down 1.6% to close Monday’s trading session at SAR 74.70.

Mubasher Contribution Time: 22-Oct-2018 14:03 (GMT)
Mubasher Last Update Time: 22-Oct-2018 14:14 (GMT)