Al-Jouf Agriculture's 2014 net profit up 5% to SAR 107.1 mln
Al-Jouf Agriculture Development Co., a producer of olive oil and agriculture products, reported 2014 net profit of SAR 107 million, a five percent increase compared to the last year.
A net profit of SAR 37.0 million was reported for Q4-2014 compared to SAR 37.1 million for Q3.
The Company attributed the increase of 2014’s net profit compared to the last year, to the increase of sales by 2.73% and the decline of selling & marketing expenses by 23.47% despite the decline of other revenue by 35.53% due to the decrease of capital gains.
The increase of Q4-2014’s net profit compared to the same period last year was attributed to the decline of selling & marketing expenses by 59.5% despite the decline of sales by 0.2%, increase of G&A expenses by 6.89% and the decline of other revenue by 79.8% due to the decrease of capital gains.
It also attributed the decline of Q4’s net profit compared to the previous period (Q3-2014) to the decrease of sales by 11.2%, the decline of other revenue by 19.33% and the increase of G&A expenses by 239% due to booking the year’s expenses despite the decline of selling & marketing expenses by 50.48%.