Saudia Dairy & Foodstuff Company (SADAFCO) reported a net profit after Zakat and tax of SAR 140.7 million for the first six-month period ended September 2020, a rise of 14% year-on-year (YoY) compared to a profit of SAR 123.4 million in the same period last year.
The increase was driven mainly by higher sales, lower cost of goods sold and lower trade promotion activity. This was partially offset by rising COVID-19 costs.
| Item | 6m 2019 | 6m 2020 | Change |
|---|---|---|---|
| Revenues | 1,006.31 | 1,101.39 | 9.4 % |
| Gross Income | 333.25 | 360.22 | 8.1 % |
| Operating Income | 128.35 | 148.28 | 15.5 % |
| Net Income | 123.44 | 140.71 | 14.0 % |
| Average Shares | 32.50 | 32.50 | - |
| EPS (Riyals) | 3.80 | 4.33 | 14.0 % |
In Q2 2020/21, ending Sept. 30, the firm posted a net profit after Zakat and tax of SAR 70.3 million, a 7.9% YoY increase driven by higher sales and favorable expense-to-sales ratio.
Compared to the previous quarter, the Q2 2020/21 profits declined 0.4%.
| Item | Q2 2019 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 521.08 | 535.40 | 2.7 % |
| Gross Income | 176.78 | 176.92 | 0.1 % |
| Operating Income | 67.22 | 72.52 | 7.9 % |
| Net Income | 65.16 | 70.31 | 7.9 % |
| Average Shares | 32.50 | 32.50 | - |
| EPS (Riyals) | 2.00 | 2.16 | 7.9 % |
| Item | Q1 2020 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 565.99 | 535.40 | (5.4 %) |
| Gross Income | 183.30 | 176.92 | (3.5 %) |
| Operating Income | 75.76 | 72.52 | (4.3 %) |
| Net Income | 70.40 | 70.31 | (0.1 %) |
| Average Shares | 32.50 | 32.50 | - |
| EPS (Riyals) | 2.17 | 2.16 | (0.1 %) |
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