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Thndr Claps » Saudi Claps » Food & Beverage 🍕 » Nadec’s profits up in Q3 2022 🥛

Nadec’s profits up in Q3 2022 🥛

by Omar El Shorafa
October 23, 2022

The Clap
Nadec’s (6010) net profit increased by 764.5% during Q3 2022.

The Deets
The company recorded a profit of SAR 27.75 million in Q3 2022, a YoY increase compared to SAR 3.21 million in Q3 2021.

Profits
The company reported that the increase in its profits was due to several factors, with revenues growing by 15.05%.

The increase in revenues was driven by the increase in sales of dairy and processed foods by 17.74%.

Company Performance
The company’s profits jumped to SAR 70.37 million in the first nine months of this year, a significant increase YoY compared to losses of approximately SAR 7.77 million.

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