SADAFCO's net profit up

Saudia Dairy and Foodstuff Company (SADAFCO) has released its audited full year 2011-12 financial statements, which have shown substantial increases in overall earnings, profits and sales as compared to 2010-2011. SADAFCO's latest financial results that were recently approved by the company's shareholders at its extraordinary general meeting (EGM) in Jeddah outlined SADAFCO's net profit for the year at SR 152 million as compared to SR 129 million from 2010-2011, an increase of 17 percent. The earnings per share (EPS) for the year 2011-2012 are SR 4.69 versus SR 4 for the same period last year. As per the recently announced results, SADAFCO's gross profit for the year is SR 415 million compared to SR 368 million in 2010-2011, an increase of 13 percent. In addition, operating income for the financial year that ended on March 2012 increased by 22 percent to SR 153 million, thereby continuing the steady growth and strong performance trend that SADAFCO has successfully maintained over the past five years. "The financial year 2011-2012 was an exciting year for SADAFCO as the company maintained double digit growth for the third consecutive year and delivered substantial operational profits. The healthy growth trends were echoed across all five geographical regions of Saudi Arabia as well as through SADAFCO operated depots in Jordan, Bahrain and Qatar," said Wout Matthijs, chief executive officer of SADAFCO. From arabnews