The company said its net profits for the first quarter rose 27 percent to SR27.4 million from the SR21.6 million profit posted during the same period last year.

The latest figure, however, is a 16 percent decrease from the SR32.7 million profit posted for the last quarter of 2010/11.

SADAFCO’s gross profit for the first quarter amounted to SR105.8 million compared to profit for the same period last year SR94.4 million an increase of 12 percent, according to a statement posted on the Tadawul website.

The company’s operating profit for the first quarter amounted to SR29.2 million compared to profit for the same period last year SR23.4 million an increase of 25 percent.

Earnings per share (EPS) for first three months in 2011 is SR0.84 compared to SR0.67 for the same period in 2010, up by 27 percent.

Sales growth in the 1st quarter was 26 percent compared to the same quarter last year resulting to: Growth in net profit by 27 percent, gross profit growth by 12 percent and operating profit growth by 25 percent due to efficiencies in sales operation, improvement in sales route planning and consumers focused commercial activities in the market.