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NASDAQ Q2 profit falls to 64.56M riyals
Nadec Company announced a decline in its profits during the second quarter of 2026, with a net profit of 64.56 million riyals, down 44% compared to the same period last year, and 31.10% compared to the previous quarter. The decrease is attributed to a 9.24% rise in cost of sales, driven by increases in feed costs, shipping expenses, and additional charges resulting from regional maritime disturbances, which had a financial impact of 45 million riyals. The company also recorded an increase in selling and marketing expenses by 5.42%, as well as losses from investments in a joint venture. Additionally, it is preparing to acquire full ownership of Al-Ra’i National for Livestock, raising its stake to 100%. For the first half of the year, net profit declined by 27.62% to reach 158.27 million riyals, compared to 218.68 million riyals during the same period last year. The company anticipates that cost pressures will ease as regional operating conditions return to normal.
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