Al Jouf's Q2 profits decline 48.55%
The profits of Al-Jouf Agricultural Development Company declined by 48.55% in the second quarter of 2026, reaching 9.48 million SAR compared to 18.42 million SAR in the same period last year. This decrease was due to an increase in product costs by approximately 13.8 million SAR, attributed to unusual weather conditions and a drop in selling prices, especially for imported products, despite growth in olive oil and agricultural product sales. Over the first half of the year, net profit decreased by 78.27% to 11.53 million SAR. Price and cost pressures led to a reduction in revenues and profits, although expectations are that the impact of the adverse weather conditions will diminish with a new agricultural season in 2026.
Notice: This Is an AI-Generated Summary
Comments (0)