Jouf Agricultural Development Company (Aljouf) recorded a 26.11 percent increase in net profit at SR15.13 million in the second quarter of this year compared to SR12 million in the same period last year, the company said in a statement on the Tadawul website. It increased 150.08 percent compared to the first quarter of 2011 at SR6.04 million. Prince Abdul Aziz Bin Misha'l Bin Abdul Aziz Al-Saud, is the Non-Executive Independent Chairman of the Board of Directors of Aljouf, a company engaged in the production of agricultural products and the manufacturing and marketing of agricultural products and livestock, whose range of products includes table and industrial potatoes, potato seeds. The rise in net profits for the second quarter was due to an increase in sales value compared to the same period last year, it said. The consolidated net profit for the first six months ended June 30 June amounted to SR21.18 million, an increase of 11 percent compared to the same period last year at SR19.15 million. The increase was a result of decline in cost of sales compared to the same period last year as well as reduced sales and marketing expenses, the company said. The total gross profit for the second quarter amounted to SR23.51 million, an increase of 34 percent compared to SR17.50 million in the same period last year. The operating profit for the second quarter amounted to SR15.52 million, an increase of 42 percent compared to the same period last year at SR10.93 million. Earnings per share for the six months was SR0.85 compared to SR0.77 for the prior year.
