Sadafco profits fall 25% on raw materials
Sweetened revenue: Sadafco Saudi Dairy and Food Company's net profit decreased by 25% in the second quarter year-over-year, due to rising raw material costs and fees resulting from disruptions in marine supply chains. Net profit reached approximately 88 million riyals, compared to 117.7 million riyals in the previous year. During the first half, profit declined by 30.2% to 170 million riyals. The company plans to invest 100 million riyals to increase production capacity by 20% and expand to 45 countries by 2028, after currently exporting its products to 35 countries and planning to increase this number.
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