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Al-Jouf profit declines 48.55% in Q2 2026
Al Jouf Agricultural Development Company’s profits decreased by 48.55% in the second quarter of 2026, with net profit amounting to 9.48 million riyals compared to 18.42 million riyals in the same period last year. This decline is attributed to a 13.8 million riyal increase in product costs due to unusual weather conditions, a decrease in selling prices driven by pricing pressures from imported products, as well as a drop in sales of French fries sticks, and higher operating expenses and zakat (charitable almsgiving). Despite this, sales of olive oil and agricultural products helped mitigate the overall decline. The company's revenues increased slightly by 0.64% year-over-year, but half-year profits plummeted by 78.27%, with operating profit decreasing by 75.42%, and earnings per share dropped to 0.38 riyals. The company expects that the impact of weather conditions will fade with the 2026 season and that operational efficiency will improve.
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