Almarai ... sales and profits jump.
Almarai Q3 profit rises 13.4pc to $143m
RIYADH, October 12, 2014
Saudi Arabia's Almarai, the Gulf's largest dairy company, reported a 13.4 per cent increase in third-quarter net profit on Sunday, slightly beating analysts' forecasts as sales rose.
Almarai made a profit of SR539.4 million ($143.8 million) in the three months to September 30, up from SR475.6 million ($126.776 million) in the year-earlier period, according to a statement to Riyadh's bourse.
Eight analysts polled by Reuters had forecast on average that Almarai would make a quarterly profit of SR520 million ($138.612 million).
The firm said third-quarter sales rose 11.7 per cent to SR3.27 billion ($872 million).
Separately, Almarai said a fire had caused "significant" damage at one of its bakeries in Jeddah last week and that it would evaluate the financial impact of the blaze in coming weeks. -Reuters