Financial Results : Al-Jouf Agricultural profit rises 32% to SAR 20.1 mln in Q1 2023

Al-Jouf Agricultural profit rises 32% to SAR 20.1 mln in Q1 2023

08/05/2023 Argaam Exclusive

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Al-Jouf Agricultural Development Co. reported a net profit of SAR 20.1 million for Q1 2023, a 32% increase from SAR 15.2 million in the prior-year period.   



Current Quarter Comparison (M)

Compared With The
Item Q1 2022 Q1 2023 Change‬
Revenues 60.41 104.44 72.9 %
Gross Income 31.88 37.81 18.6 %
Operating Income 17.90 21.43 19.7 %
Net Income 15.23 20.08 31.8 %
Average Shares 30.00 30.00 -
EPS (Riyals) 0.51 0.67 31.8 %

The profit growth was spurred by higher sales and an increase in other revenues, despite a rise in selling and distribution cost, increase in general and administrative costs, and higher Zakat expenses.

 

Total shareholders’ equity, no minority interest, amounted to SAR 672.6 million at the end of Q1 2023, compared to SAR 642.9 million a year before.

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