Saudi agricultural, food companies beat Q4 profit estimates by 4%
24/01/2016 Argaam Exclusive
The combined net profit of eight Saudi agricultural and food producing companies (SAR 1.4 billion) topped consensus estimates of SAR 1.34 billion by four percent in Q4-2015, according to data compiled by Argaam.
Saudia Dairy and Foodstuff Co. (Sadafco) finished on top, exceeding average estimates of analysts by 39 percent with a net profit of SAR 49.1 million for the same period.
Food manufacturer Halwani Bros’ bottom line came 27 percent ahead of forecasts.