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الاقتصادية
Nadak's quarterly profit drops 44% due to lower investments
The national agricultural development company "Nadec" saw its profits decline by 44% during the second quarter of 2026, reflecting the impact of a 9.2% increase in cost of sales due to rising prices of feed and shipping. Additionally, there were higher selling and marketing expenses, as well as costs related to asset disposal losses. The company also recorded a loss of 9.1 million riyals from its investment in a joint venture, after fully acquiring its shares in the project, which cost 23.7 million riyals. Nonetheless, quarterly revenues increased by 5.5% to 876.5 million riyals, driven by a 99.2% and 41% growth in sales of the protein and agriculture sectors, respectively, while sales of dairy and food manufacturing declined by 3.6%. It is worth noting that "Nadec" is one of the largest food and agricultural companies in the Middle East, offering more than 200 products distributed across over 48,000 outlets, with a market value of 4.6 billion riyals.
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