Al-Jouf Agricultural Development Company was founded in 1988 to develop farming activities in Jouf in the northwest of the kingdom. The company is 98.5 per cent owned by the private sector. Initially, the company concentrated on wheat production, and earnings were buoyed by the government's wheat price support programme.

Since this has been phased out, the company has been obliged to revise its strategy and is examining the possibility of moving into other market segments. The priority is food processing and Al-Jouf Agricultural Development was in 1997 the sole manufacturer of olive oil in the kingdom.

Its processing plant is supplied with locally-produced olives. Following an impressive 63 per cent increase in net profits in 1997 to SR 11.3 million ($3 million) from SR 6.9 million ($1.8 million) in 1996, the first dividend since 1993 was awarded to shareholders.

Sales revenues edged lower in 1998 to SR 100.5 million ($27 million). Nevertheless, the company managed to report a slight rise in net income to SR 17.5 million ($4.7 million). An unchanged dividend was declared for the year.

Individuals	N/A
Institutions	1%
Floating	N/A
Government	2%

	2004	2003	2002
Total Assets	355,287	362,914	374,274
Shareholder's Equity	300,328	289,882	287,304
NIAT	10,445	4,623	7,312
Dividends	N/A	N/A	N/A

	2004	2003	2002
Assets Growth	-2.10%	-3.04%	2.92%
Earning Growth	125.95%	-36.78%	57.75%
ROaA	2.91%	1.25%	1.98%
ROaE	3.54%	1.60%	2.59%
No. Of Shares	4,000,000	4,000,000	4,000,000
EPS	2.61	1.16	1.83
EPS Growth	125.95%	-36.78%	57.75%
Payout Ratio	N/A	N/A	N/A

	Trailing
PE
PB
DVPS
Div Yield
EV
EV/Equity

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