Riyadh – Mubasher: National Agricultural Development Company (Nadec) logged net profits after Zakat and tax worth SAR 178.08 million in the first nine months (9M) of 2023, marking a 153.06% jump from SAR 70.37 million in 9M-22.
The earnings per share (EPS) amounted to SAR 1.75 in 9M-23, an annual rise from SAR 0.69, according to the initial income statements.
Revenues stood at SAR 2.39 billion in the January-September 2023 period, up 18.40% year-on-year (YoY) from SAR 2.02 billion.
Financials for Q3-23
In the third quarter (Q3) of 2023, Nadec registered SAR 75.27 million in net profit after Zakat and tax, higher by 171.24% than SAR 27.75 million in Q3-22.
The Saudi firm posted a 22.50% surge in revenue to SAR 861.10 million during July-September 2023, versus SAR 702.67 million a year earlier.
On a quarterly basis, the Q3-23 net profits climbed by 15.57% from SAR 65.13 million in Q2-23, while the revenues grew by 9.57% from SAR 785.86 million.
