The drop was attributed primarily to an increase in buying costs associated with some key products RIYADH: Saudi Almunajem Foods Co. saw its profit tumble by 27.7 percent during 2021 as cost pressures took their toll. The listed-firm registered a net profit of SR166 million ($44 million), down from SR229 million a year earlier, according to a bourse filing. The drop was attributed primarily to an increase in buying costs associated with some key products, which led to a decrease in gross profit of 3.6 percent. While the company"s profit fell, its sales grew 1.5 percent to SR2.57 billions, mostly due to recovery in demand for the Food Service channel, the company said in a statement. “Despite the global pandemic’s continued impact on global supply chains and influence of supply-demand dynamics on the global and local F&B industry, Almunajem Foods revenues continued to grow at a steady pace in 2021” , Thamer Abanumay, chief executive officer of Almunajem Foods, said. Established in 1962, Almunajem Foods is among the largest publicly traded Saudi food companies involved in importation.