Saudi SADAFCO expands footprint in Oman with new deal

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Saudia Dairy and Foodstuff Company (SADAFCO) inked a sales and export agreement for its products in Oman, according to a bourse filing.

The deal aligns with the company's expansion plans to widen its footprint within and outside Saudi Arabia.

Moreover, SADAFCO aims to strengthen its position in the food & beverage (F&B) industry in the region.

In the first nine months (9M) of fiscal year (FY) 2022/2023, the Tadawul-listed firm logged net profits after Zakat and tax valued at SAR 78.33 million, an annual surge of 43.54% from SAR 54.57 million.

Revenues increased by 25.79% to SAR 654 million in 9M-22/23 from SAR 519.90 million 9M-21/22, while the earnings per share (EPS) climbed to SAR 6.82 from SAR 4.56.