NADEC Profit Drops 73% on Soaring Feed, Shipping Costs
Riyadh, Saudi Arabia — The National Agricultural Development Company (NADEC) reported a sharp drop in quarterly profit, with net income falling 72.53% year-on-year to 30.4 million SAR in Q3 2026. Surging animal feed costs, higher shipping charges, and regional maritime disruptions crushed margins even as revenue grew. The result marks a significant reversal from the […] The post NADEC Profit…
Riyadh, Saudi Arabia - The National Agricultural Development Company (NADEC) announced a 73% decline in net profit for Q3 2026, dropping to 30.4 million SAR, compared to 110.67 million SAR in the same quarter last year. The company's revenue increased slightly by 0.69% year-on-year, reaching 2,704.03 million SAR.
The main contributors to the profit drop were soaring feed costs, increased shipping charges, and regional maritime disruptions. The cost of sales as a percentage of revenue rose by 7.90 percentage points, and operating profit fell by 69.71%. Management stated that while feed costs, shipping charges, and maritime surcharges are expected to ease gradually as the regional operating environment normalizes, profitability is currently below 2025 levels.
Written by urgent.news from The Saudi Standard's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
