Riyadh – Mubasher: Al-Jouf Agricultural Development Company achieved a net profit of SAR 6.545 million during the first quarter (Q1) of 2020, compared with SAR 6.53 million for the same period of the year before, posting a marginal increase of 0.23%.
The company’s sales decreased during the three-month period by 7.1% to SAR 46.13 million, up from SAR 49.64 million in Q1-19, as shown by the company’s interim financial results.
The rise in net profits was attributed to an improvement in profit margins that led to a 19.8% growth in gross profit by 19.8%, despite the decrease in sales revenue by SAR 3.52 million.
