Saudi Arabia .. “influence” shares rises to a new standard

The share of Nafal Food Products Company increased by 4.20% during trading in the parallel Saudi market “growth” today, Thursday, to circulate at the price of 25.30 riyals per share, achieving a new record level.

59.75 thousand shares of the Food Products Company shares were traded at that time, with a trading value of 1.53 million riyals.

The highest price for the share at that time was at 26.70 riyals, while the lowest price was at 24.90 riyals.

The annual financial statements of a company of influence for food products showed an increase in its net profit for 2024 by 21.01% compared to the previous year, as the net profit after the calculation of zakat and taxes reached about 51.64 million riyals, compared to 42.67 million riyals in 2023.

The company pointed out that this improvement is due to a group of factors, most notably the high sales and enhancing the efficiency of productive processes, as well as low costs of raw materials, which reflected positively on profit margins.

The results also showed the company’s achievement of a growth in revenue by 18.45%, to reach 365.06 million riyals, compared to 308.19 million riyals during the previous year.

During the first half of the year 2024, the “influence” of a net profit reached 27.14 million riyals, compared to 22.05 million riyals for the same period from 2023.

An Nafal Food Products Company, known as “influence”, is one of the Saudi companies listed in the parallel market, “Nemo”, which is affiliated with Saudi Arabia, since January 2023.

The company specializes in the retail sector, with a major focus on filling and preserving agricultural foods and products. The company’s headquarters is located in the capital, Riyadh, and its work was launched in January 2015.