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FINANCIAL NEWS
Almarai’s net profit up 1.8% to USD93.1m
10 Jul 2011
(MENAFN) Tadawul stated that the net profit of Saudi Almarai in the second quarter rose 1.8 percent to USD93.1 million year on year, reported Arab News.
Tadawul also said that the company’s operating profit in the same quarter also climbed 4.7 percent to USD108.17 million up from USD103.34 million.
The Market added that Almarai’s total gross profit increased 9.4 percent in comparison with last year’s Q2 and amounted to USD204.51 million.
It is worth noting that Almarai is the largest integrated dairy foods company in the Middle East. The company was established in the Kingdom of Saudi Arabia in 1976 as a partnership between the Irish agri-foods pioneer Alastair McGuckian and his brother Paddy, and HH Prince Sultan bin Mohammed bin Saud Al Kabeer.
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