Saudi Arabia’s NADEC turns into profit of $11m on higher dairy and food sales

RIYADH: Saudi Arabia’s National Agricultural Development Co. turned in profits during the first half of 2022 helped by a surge in sales of dairy and food processing.

The company turned green with a profit of SR43 million ($11 million) in the first six months of the year from losses of SR10.98 million in the same period last year, according to a bourse filing.

The company attributed the result to an 18 percent growth in sales of dairy and food processing, leading to a 21 percent revenue increase.