_1777294237270_124456903.png&w=64&q=75){kind=small}
Najd's Q3 profit drops to 30.4M Riyals
Nadec, the National Agricultural Development Company, experienced a significant decline in profits during the third quarter of 2026, with net profit dropping to 30.4 million SAR compared to 110.67 million SAR in the same period last year, representing a decrease of 72.5%. This decline is attributed to a 7.90 percentage point increase in cost of sales, resulting from unusual rises in feed costs, shipping expenses, and fees associated with regional maritime disruptions. Additionally, selling and marketing expenses increased by 12.90%, and treasury income declined due to a drop in profit from Murabaha—both of which had a substantial impact on overall earnings. Despite these challenges, revenues grew by 7.84% to reach 909.72 million SAR, driven by increased sales in the protein and dairy sectors, even though sales in the agricultural sector fell by 12.31%. Over the first nine months of the year, the company's profits decreased by 42.72%, with net profit amounting to 188.66 million SAR compared to 329.35 million SAR in the same period last year. The results indicate that rising costs and the decrease in certain revenues led to a decline in profitability, though there are expectations for an improvement as the operating environment gradually returns to normal.
Notice: This Is an AI-Generated Summary
Comments (0)