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Almarai Q3 profit rises 10.3pc to $158.7m

RIYADH, October 8, 2015

Saudi Arabia's Almarai, the Gulf's largest dairy company, reported a 10.3 per cent rise in third-quarter net profit on Thursday that was slightly below estimates despite increased sales.

Almarai made a profit of SR595.1 million ($158.7 million) in the three months to September 30, up from SR539.4 million in the year-earlier period, according to a bourse statement.

Six analysts polled by Reuters had forecast on average that Almarai would make a quarterly profit of SR602.9 million.

The company, which sold a SR1.6 billion riyal sukuk in September, said quarterly sales rose 7.8 per cent to SR3.52 billion. - Reuters




Tags: Saudi Arabia | dairy | Almarai |

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