Riyadh-Mubasher: Saudia Dairy and Foodstuff Co. (Sadafco) reported net earnings of SAR 68.3 million for the third quarter ended 31 December 2015, soaring 126% compared with SAR 30.2 million in the same period of 2014.
Nine-month net profits climbed 61% year-on-year from SAR 112 million to SAR 181 million.
The third-quarter profit increase was primarily due to lower cost of sales as a result of favourable key commodities prices in the international market, combined with sales growth of 10.8%, the company said.
It added that the nine-month profit leap was predominantly due to lower cost of sales arising from low international commodity prices and increase in sales.
