NADEC records $11m profit

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  • There was a 21 percent revenue increase due to a high growth in sales of dairy and food processing
  • The company had posted losses of $2.9 million in the same period last year

National Agricultural Development Company of Saudi Arabia has recorded profits during the first half of 2022 helped by a surge in sales of dairy and food processing.

The company turned green with a profit of $11 million in the first six months of the year from losses of $2.9 million in the same period last year, according to a bourse filing.

The company attributed the result to an 18 percent growth in sales of dairy and food processing, leading to a 21 percent revenue increase.

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