The profits of Baladi Poultry Trading Company jumped 170.4% during the first quarter of this year to 24.32 million riyals, compared to about 9 million riyals in the corresponding quarter of 2022.
The company stated in a statement to Tadawul Saudi Arabia today, Wednesday, that the reason for the increase in net profit is the growth in revenues for the first quarter of the year by 44.13% to 177.17 million riyals, compared to about 123 million riyals in the corresponding period of last year.
Total shareholders’ equity, “after excluding minority rights”, amounted to 154.9 million riyals at the end of the first quarter of 2023, compared to 75.2 million riyals in the corresponding quarter of last year, an increase of 106%.
Earnings per share increased in the first quarter of this year to 3.7 riyals, compared to 1.36 riyals in the first quarter of 2022.
The company said that the average daily production amounted to 151,000 birds per day during the first quarter of 2023, compared to the same quarter of the previous year, when it reached 114,000 birds.
It is worth noting that on March 19, 2023, the shares of “Baladi Poultry Trading” began to be listed and traded in the parallel market “Nomu” with “Saudi Tadawul”.