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  • Steve Halor

Leen Alkhair Trading Co. releases interim financial results

In a remarkable surge, fruit and vegetable sales witnessed a notable 7% growth, or an impressive 8 million riyals, when compared to the corresponding period of the previous year. The figures soared from a modest 109 million riyals to a staggering 118 million riyals, painting a picture of a flourishing market. The remarkable growth in the fruit and vegetable industry can be attributed to several key factors. Firstly, there has been a significant surge in the quantity of produce sold, accompanied by a notable increase in prices. This upward trend has undoubtedly contributed to the industry's overall expansion. Furthermore, the expansion of distribution channels has played a pivotal role in facilitating this growth. With a wider reach and improved accessibility, the industry has been able to tap into new markets and cater to a larger customer base. This expansion has undoubtedly fueled the industry's upward trajectory. However, it is important to note that this growth has not come without challenges. One notable obstacle has been the surge in sales costs, which have risen by a staggering 14%. This increase can be primarily attributed to escalating transportation costs, which have put a strain on the industry's profitability. Despite this setback, the fruit and vegetable industry has managed to overcome these challenges and continue its impressive growth. With a combination of increased sales, higher prices, and expanded distribution channels, the industry has proven its resilience and ability to adapt to changing market conditions. In a notable turn of events, the net income has experienced a significant decline of 3 million riyals when compared to the corresponding period of the previous year. This unfortunate downturn can be attributed to the mounting expenses incurred in the procurement of fruits and vegetables, as well as the escalating costs associated with transportation, packaging, and shipping.

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