Riyadh – Mubasher: Al-Jouf Agricultural Development Company (JADCO) announced turning profitable during the first quarter of 2019, compared to the year-ago period.

The company generated a profit of SAR 6.53 million in Q1-19, against SAR 23.96 in losses during Q1-18, according to a filing to the Saudi Stock Exchange (Tadawul) on Sunday.

The increase in sales and the drop in sales cost pushed the company to turn to profitability.

During the full-year 2018, JADCO reported a 40% year-on-year increase in profits, recording SAR 35.76 million.