Saudi Arabia's Almarai, the Gulf's largest dairy firm, reported a 12 per cent rise in first-quarter net profit on Monday on higher sales.

The firm made a profit of SR306.5 million ($81.7 million) in the three months to March 31, up from SR273.6 million in the year-earlier period, according to a bourse statement.

First-quarter sales rose 11.7 per cent year on year to SR3.04 billion, it added.  - Reuters