Saudia Dairy and Foodstuff Company (SADAFCO) has announced a net profit of SR260 million ($69 million) during the 12-month period ending on March 31. This is despite the decline in consumer spending and aggressive price strategies of competition.
Strong working capital ratios and a free cash flow of SR559 million with zero leveraging after a dividend payout of 50 percent have contributed to enhanced shareholder value. Shareholders equity for the period was valued at SR1.321 billion, a 5 percent increase in comparison to the same period last year (SR1.261 billion).
“SADAFCO continues to strengthen its premium branded position despite the current challenging market environment,” said Wout Matthijs, CEO of SADAFCO.
