NADEC releases financial results, suffers losses of $76m in 2021

The National Agricultural Development Company, also known as NADEC, suffered losses of SR285 million ($76 million) in 2021, according to a bourse filing. 

The company’s net profit was down 899.42 percent in 2021, while the total revenue fell by 3.39 percent. 

The loss per share for the current year reached SR2.80, compared to earnings per share of SR0.35 in 2020. 

The gross profit for the current year decreased by 14.09 percent, reaching SR623.59 million, compared to SR725.84 million last year.