23 Hrs
Source:
الاقتصادية
SADAFCO profits drop 25 from raw materials
Sabic Saudi Dairy & Food Company’s net profit decreased by 25% in the second quarter, reaching approximately 88 million riyals compared to 117.7 million a year earlier, due to rising raw material costs and regional shipping disruptions. For the first half of the year, profit declined by 30.2% to 170 million riyals. The company plans to invest 100 million riyals to increase milk production capacity by 20% and expand to 45 countries over the next two years. Currently, its products are exported to about 35 countries in Asia and Africa, with plans to reach 40-45 countries by 2028.
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