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