Saudi Almarai Q1 net profit rises 2.9pc
Riyadh, April 7, 2012
Saudi dairy and food maker Almarai Trading Company said on Saturday its first-quarter net profit rose 2.9 per cent to SR242.1 million ($64.6 million) from SR235.2 million a year ago, as wider regional distribution boosted sales.
The sales rose by 17 per cent on the year to SR2 billion, it said.
'In particular, this was driven by bakery growth in the Gulf countries and poultry expansion in the Kingdom of Saudi Arabia,' said Almarai in a statement posted on the Saudi bourse's website.-Reuters