Saudia Dairy & Foodstuff Company (SADAFCO) reported a net profit after Zakat and tax of SAR 205 million for the first nine-month period ended Dec. 31, 2020, a rise of 7% compared to a net profit of SAR 191.1 million a year earlier.
The increase was driven by higher sales, lower cost of goods sold and lower trade promotion activity. This was partially offset by incremental COVID-19 costs of SAR 12.5 million and a donation of SAR 8.7 million.
| Item | 9m 2019 | 9m 2020 | Change |
|---|---|---|---|
| Revenues | 1,494.78 | 1,583.41 | 5.9 % |
| Gross Income | 509.37 | 521.02 | 2.3 % |
| Operating Income | 200.94 | 211.70 | 5.4 % |
| Net Income | 191.77 | 204.47 | 6.6 % |
| Average Shares | 32.50 | 32.50 | - |
| EPS (Riyals) | 5.90 | 6.29 | 6.6 % |
In Q3 2020/21, the company posted a net profit after Zakat and tax of SAR 64.2 million, a decline of 6% YoY, due to lower sales and lower gross margins which were partially offset by decreased expenses.
When compared to the previous quarter, net earnings dropped 8.7%.
| Item | Q3 2019 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 488.47 | 482.02 | (1.3 %) |
| Gross Income | 176.12 | 160.80 | (8.7 %) |
| Operating Income | 72.58 | 63.42 | (12.6 %) |
| Net Income | 68.32 | 63.77 | (6.7 %) |
| Average Shares | 32.50 | 32.50 | - |
| EPS (Riyals) | 2.10 | 1.96 | (6.7 %) |
| Item | Q2 2020 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 535.40 | 482.02 | (10.0 %) |
| Gross Income | 176.92 | 160.80 | (9.1 %) |
| Operating Income | 72.52 | 63.42 | (12.6 %) |
| Net Income | 70.31 | 63.77 | (9.3 %) |
| Average Shares | 32.50 | 32.50 | - |
| EPS (Riyals) | 2.16 | 1.96 | (9.3 %) |
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