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.
