Al-Jouf Agricultural Development Co. posted a 9% profit increase in the first nine months of 2023 to SAR 45.5 million, compared to SAR 41.9 million in the year-earlier period.
| Item | 9m 2022 | 9m 2023 | Change |
|---|---|---|---|
| Revenues | 259.79 | 311.92 | 20.1 % |
| Gross Income | 96.02 | 99.83 | 4.0 % |
| Operating Income | 46.88 | 47.76 | 1.9 % |
| Net Income | 41.90 | 45.49 | 8.6 % |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 1.40 | 1.52 | 8.6 % |
The profit increase is driven by higher sales and other revenues, despite an increase in selling, distribution, general, administrative, and Zakat expenses.
| Item | Q3 2022 | Q3 2023 | Change |
|---|---|---|---|
| Revenues | 135.35 | 149.57 | 10.5 % |
| Gross Income | 44.00 | 43.04 | (2.2 %) |
| Operating Income | 21.49 | 21.43 | (0.3 %) |
| Net Income | 19.84 | 20.72 | 4.4 % |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 0.66 | 0.69 | 4.4 % |
| Item | Q2 2023 | Q3 2023 | Change |
|---|---|---|---|
| Revenues | 57.90 | 149.57 | 158.3 % |
| Gross Income | 18.98 | 43.04 | 126.8 % |
| Operating Income | 4.90 | 21.43 | 337.3 % |
| Net Income | 4.70 | 20.72 | 341.2 % |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 0.16 | 0.69 | 341.2 % |
In Q3 2023, net profit grew 4% to SAR 20.7 million from SAR 19.84 million in Q3 2022.
On a sequential basis, the bottom line jumped more than four-fold from SAR 4.70 million in Q2 2023.
Shareholders’ equity, no minority interest, reached SAR 698.02 million as of Sept. 30, 2023, up from SAR 654.52 million a year earlier.
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