Saudia Dairy & Foodstuff Company reports strong sales, profit growth for 2024
Source: www.arabnews.com
Saudia Dairy & Foodstuff Company (SADAFCO) reported impressive financial results for 2024, showcasing significant growth in sales and profits, coupled with strategic advancements in product innovation and brand development.
Saudia Dairy & Foodstuff Company, a leader in Saudi Arabia's dairy and food sector, has announced robust financial results for the year 2024. The company reported total sales of SR2.96 billion ($789 million), marking a 6.59% increase from 2023. Net profits rose to SR483.16 million, comprising 16.31% of net sales, up from 14.91% in the previous year.
Patrick Stillhart, CEO of SADAFCO, attributed the success to the company's strong market position, sustainable growth strategies, and dedicated workforce. He highlighted the company's strategic investments in distribution, product innovation, and brand development as key drivers of performance.
As part of its commitment to shareholders, SADAFCO distributed SR15 per share in cash dividends during 2024. The company also emphasized its adherence to best practices in environmental, social, and governance (ESG) standards, aligning with Saudi Arabia's Vision 2030 and the nation's net-zero emissions target by 2060.
Patrick Stillhart, CEO of SADAFCO, attributed the success to the company's strong market position, sustainable growth strategies, and dedicated workforce. He highlighted the company's strategic investments in distribution, product innovation, and brand development as key drivers of performance.
In 2023, SADAFCO transitioned its fiscal year-end from March to December. Comparing the prior year's 12-month span to the nine-month period from April to December 2023 revealed sales surging by 40.32% and profits by 48.67%.
As part of its commitment to shareholders, SADAFCO distributed SR15 per share in cash dividends during 2024. The company also emphasized its adherence to best practices in environmental, social, and governance (ESG) standards, aligning with Saudi Arabia's Vision 2030 and the nation's net-zero emissions target by 2060.
