Al-Jouf Agricultural Development Co. reported a net profit of SAR 20.1 million for Q1 2023, a 32% increase from SAR 15.2 million in the prior-year period.
| Item | Q1 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 60.41 | 104.44 | 72.9 % |
| Gross Income | 31.88 | 37.81 | 18.6 % |
| Operating Income | 17.90 | 21.43 | 19.7 % |
| Net Income | 15.23 | 20.08 | 31.8 % |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 0.51 | 0.67 | 31.8 % |
| Item | Q4 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 82.21 | 104.44 | 27.0 % |
| Gross Income | 24.27 | 37.81 | 55.8 % |
| Operating Income | 9.82 | 21.43 | 118.2 % |
| Net Income | 9.17 | 20.08 | 119.0 % |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 0.31 | 0.67 | 119.0 % |
The profit growth was spurred by higher sales and an increase in other revenues, despite a rise in selling and distribution cost, increase in general and administrative costs, and higher Zakat expenses.
Total shareholders’ equity, no minority interest, amounted to SAR 672.6 million at the end of Q1 2023, compared to SAR 642.9 million a year before.
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