19 Hrs
Source:
الاقتصادية
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Feed and shipping costs reduce Nadec profits
Nadec's profits declined by 44% in the second quarter of this year, reaching 6.4 million SAR, due to rising costs of feed, shipping, and fees related to maritime disruptions, which negatively impacted its profit margins. Despite a revenue growth of 5.5% to 876.4 million SAR, supported by a 99% increase in protein sector sales and a 41% rise in agriculture sales, the increase in costs caused a 28.2% decrease in operating profit and resulted in losses in its stake in Al Rahi National for Livestock. The company expects cost pressures to ease in the future as the regional operating environment improves.
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