The Clap
Fadeco (9536), who works in the production of ice cream, marketing, and trade, recorded losses of SAR 199,000 YoY during H1 2022, compared to profits of SAR 3.5 million during H1 2021.
The Deets
The company justified its losses during H1 2022 to the increase in the prices of raw materials, general and administrative expenses as well as other expenses.
Its sales, however, increased by 9.40% YoY in H1 2022 by about SAR 2 million due to the company’s expansion into new areas, reliance on electronic marketing channels, and access to a larger segment of individual customers.
Nomu
Nomu is a parallel exchange to the main stock exchange (Tadawul), with lower listing requirements, serving as an alternative platform for companies wishing to list on the stock exchange. However, it is only intended for qualified investors.
Why this Matters
Fadeco’s Board of Directors decided to distribute interim cash dividends to shareholders, at 7.75% of the capital (equivalent to SAR 0.78 per share), as dividends for Q2 2022.
This is the company’s first cash dividend since it was listed on the parallel market “Nomu” on June 12, 2022.
Fadeco records losses in H1 2022 🍦
