Financial Results : NADEC turns to losses of SAR 11 mln in H1 2021

NADEC turns to losses of SAR 11 mln in H1 2021

04/08/2021 Argaam Exclusive

View other reports

National Agricultural Development Co. (NADEC) reported net loss after Zakat and tax of SAR 11 million in H1 2021, from a net profit of SAR 149.8 million in the prior-year period.

 

The loss was attributed to lower revenue and sales of dairy and food processing sector, higher cost of sales and general and administrative expenses, in addition to realizing a grant income of SAR 111.8 million during the same period in 2020.



Financials (M)

Item 6m 2020 6m 2021 Change‬
Revenues 1,167.21 1,089.70 (6.6 %)
Gross Income 414.11 341.79 (17.5 %)
Operating Income 69.11 36.18 (47.6 %)
Net Income 149.81 (10.98) (107.3 %)
Average Shares 212.89 212.89 -
EPS (Riyals) 0.70 (0.05) (107.3 %)

The company reported a net loss after Zakat and tax of SAR 17.4 million for Q2 2021, from a net profit after Zakat and tax of SAR 131.6 million in the same quarter last year.

 

On a sequential basis, the company also turned to losses in Q2 2021, compared to a profit of SAR 6.4 million in Q1 2021.



Current Quarter Comparison (M)

Compared With The
Item Q2 2020 Q2 2021 Change‬
Revenues 608.06 548.74 (9.8 %)
Gross Income 211.64 167.19 (21.0 %)
Operating Income 33.04 11.52 (65.1 %)
Net Income 131.63 (17.35) (113.2 %)
Average Shares 212.89 212.89 -
EPS (Riyals) 0.62 (0.08) (113.2 %)

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.