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JADCO posts profit surge in Q1

JADCO posts profit surge in Q1
Photo Credit: Arabianeye-Reuters
ALJOUF
6070
12.52% 57.50 6.40

Al Jouf Agricultural Development Co. (JADCO) posted Sunday its preliminary financial results for the first quarter of the fiscal year 2015, showing that net profits soared by 66.1% to SAR 8.622 million, compared with SAR 5.191 million in the year-ago period.

The profit jump was fueled by strong sales and other revenues, in addition to lower sales and distribution expenses.