Riyadh – Mubasher: National Agricultural Development Co. (Nadec) said Sunday its net profit for the fourth quarter of 2015 rose by 72% year-on-year to SAR 34.4 million, from SAR 20 million.
Net income for FY15 amounted to SAR 141 million, up 32% from SAR 107 million a year ago.
The profits rise in Q4 was spurred by a 8.90% increase in sales, in addition to a decrease in sales costs.
Similarly, the increase in FY15 earnings was backed by a rise in sales by 13.59%.
