Riyadh – Mubasher: National Agricultural Development Company (Nadec) reported a 137.36% year-on-year (YoY) surge in net profits after Zakat and tax to SAR 15.12 million in the January-March period of 2022 from SAR 6.37 million.
The company's revenues rose by 13.21% to SAR 607.33 million in the first quarter (Q1) of 2022, compared to SAR 536.43 million in the year-ago period, according to the company's financial results for the period ended 31 March 2022.
The earnings per share (EPS) settled at SAR 0.15 in Q1-22, versus SAR 0.06 in the same period of 2021.
It is noteworthy to mention that in 2021, the company incurred net losses after Zakat and tax of SAR 285.03 million, against net profits of SAR 35.65 million in 2020.
