Complex Made Simple

Sales of Saudi agriculture, food companies amount to SAR13.6 billion

Net profits increased in the second quarter by six per cent compared with the same period last year

The shares of the agriculture and food industries sector companies listed in the Saudi stock market performed well during the second quarter of 2015.

The sales of these companies rose 15 per cent in the second quarter to SAR13.6 billion compared with SAR11.9bn during the same quarter of the past year, reports London-based Al-Hayat.

The net profits of the companies increased in the second quarter to SAR1.33bn, compared with SAR1.26bn for the same quarter of 2014, an increase of six per cent. The profits grew by 24 per cent from SAR1.08bn for the first quarter of 2015.

The agriculture and food industries sector consists of 16 joint-stock companies, with market value of SAR110.4bn according to Thursday’s session, accounting for 6.6 per cent of the Saudi market.

The total capital of the sector’s companies amount to SAR16.8bn. Almarai Company accounts for 36 per cent of total capital with SAR6bn, followed by Savola Group with a capital of SAR5.33bn – accounting for 32 per cent of the total capital.

(SAR1 = AED0.98, at the time of publishing)