Published 28 Apr,2021 via Arab News - Economy DUBAI - A slowdown in the sales of agriculture, dairy, and processed food products dragged earnings lower at Saudi Arabia’s National Agricultural Development Company (NADEC).
First quarter net profit fell by almost two-thirds to SR6.4 million ($1.7 million), it said in a stock exchange filing on Wednesday.
Cost of sales also rose mainly because of the removal of the government subsidy on animal feed, it said.
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