Categories: Business

Shares of Saudi Arabia’s NADEC climb after it turns to profit of $19m


Sun, 2022-10-23 09:53

RIYADH: Saudi Arabia’s National Agricultural Development Co. turned to profits during the first nine months of 2022, thanks to a surge in dairy and food processing sales.

The company recorded a profit of SR70 million ($19 million) in the first nine months of the year from losses of SR8 million in the same period last year, according to a bourse filing.

 

Following the announcement, shares of NADEC climbed 2.09 percent to reach SR26.85, as of 10:08 a.m. Saudi time.

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