Modern Mills for Food Products Co. said third-quarter net profit rose 11% to SR62.3 million from SR56.1 million a year earlier, as revenue increased 25.8% to SR328.5 million.
The Saudi flour and animal feed producer reported the preliminary results to the Saudi Exchange on Sunday, according to Argaam. Revenue rose by SR67.3 million on higher sales volumes across its main segments and improved average selling prices, the company said.
Higher raw material costs that were not fully passed on to customers, increased selling and distribution expenses linked to geographic expansion, and higher financing costs partly offset the gains.
Compared with the second quarter, net profit rose 16.6% from SR53.4 million, and revenue increased 10.6%.
For the first nine months of 2026, net profit rose 5.9% to SR181.6 million from SR171.5 million, and revenue grew 17.2% to SR906.7 million.
Third-quarter profit was above the SR58.75 million average analyst estimate compiled by Argaam. Shareholders’ equity rose to SR342.6 million at the end of September from SR272.0 million a year earlier.
In August, the company signed a SR235 million ($62.7 million) Sharia-compliant credit facility with Saudi Awwal Bank to finance a new feed mill in Al-Jumum and its working capital needs, TradeArabia reported.
