“Intaj” net profits declined to 100 thousand riyals in the third quarter
The net profits of the Arab Agricultural and Industrial Investment Company (Intaj) for the third quarter of the current year declined by 97.7% to 100 thousand riyals, compared to a net profit of 4.4 million riyals in the same quarter of the previous year.
According to a statement on "Saudi Arabia trading"Today, Thursday, this is mainly due to the formation of a one-time provision within the general and administrative expenses item of 12.8 million riyals, which limited the gains achieved in the decrease in the provision for expected credit losses (ECL) by 5.3 million riyals, as well as the impact of the improvement in the gross profit margin.
The total profit for the third quarter of 2025 amounted to about 67.6 million riyals, an increase of 90.4% compared to the same quarter of the previous year, and this is due to Cost savings achieved by the company "production" Procurement initiatives and other cost improvements helped alleviate pressures resulting from lower prices.
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