Riyadh – Mubasher: AlJouf Agricultural Development (JADCO) posted a 7.95% decrease in net profits in the first quarter of 2017 to SAR 8.11 million, compared to SAR 8.81 million in Q1-16.
The decline in net profits was due to lower sales by SAR 8.11 million and higher capital losses by SAR 1.17 million, despite lower distribution costs, and finance and sales expenses, according to a bourse filing on Wednesday.
Total sales fell 14.4% year-on-year to SAR 48.2 million compared to SAR 56.3 million in the year-ago period.
