Riyadh – Mubasher: Saudia Dairy and Foodstuff Company (SADAFCO) achieved net profits after Zakat and tax of SAR 220.45 million in the first half (H1) of fiscal year (FY) 2023/2024.
Therefore, the net profits in the six months (6M) that ended on 30 September 2023 were 54.81% year-on-year (YoY) than SAR 142.40 million, according to the income statements.
Earnings per share (EPS) rose to SAR 6.97 as of 30 September 2023, compared to SAR 4.37 in the same period of the previous year.
Sales went up by 7.37% YoY to SAR 1.42 billion in H1-23/24 from SAR 1.32 billion.
Financial Results for Q2-23/24
In the second quarter (Q2) that ended on 30 September 2023, SADAFCO recorded a YoY growth of 31% in net profit to SAR 112.81 million from SAR 86.12 million.
Sales also increased by 7.18% to SAR 744.36 million in July-September 2023, compared to SAR 694.49 million in Q2 which ended on 30 September 2022.
Quarter-on-quarter (QoQ), the net profits in Q2-23/24 improved by 4.81% from SAR 107.63 million in Q1 that ended on 30 June 2023, while the sales rose by 9.59% from SAR 679.23 million.
It is worth noting that the company’s FY begins on 1 April and ends on 31 March of the following year.
In June 2023, SADAFCO proposed cash dividends of SAR 95.99 million, equivalent to 30% of its capital, for H2-22/23.
