Arabian Food & Dairy Factories Co. (FADECO) reported a decline of 37% in net profit to SAR 3.8 million in 2022, from SAR 6 million a year earlier.
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 52.24 | 58.04 | 11.1 % |
| Gross Income | 22.04 | 23.37 | 6.0 % |
| Operating Income | 6.04 | 4.09 | (32.3 %) |
| Net Income | 6.02 | 3.77 | (37.3 %) |
| Average Shares | 1.41 | 1.41 | - |
| EPS (Riyals) | 4.27 | 2.68 | (37.3 %) |
The profit decline was attributed to higher prices of raw materials and elevated general and administrative expenses. This is despite an increase in sales.
Total shareholders’ equity, no minority interest, rose to SAR 28.96 million as of Dec. 31, 2022, from SAR 28.10 million a year earlier.
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