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FINANCIAL NEWS
Saudi Almarai profit up 8.8 percent in Q2
07 Jul 2014
(MENAFN) Saudi Arabia’s Almarai, the Gulf’s largest dairy company, said that it saw an 8.8 percent growth in its second quarter net profit, according to Arab News.
The company’s net profit in the second quarter was estimated at USD115.5 million compared to USD106.154 million during period 2013.
The company said second-quarter sales boosted 14.4 percent to USD877 million from higher sales in core parts of the business.
Almarai’s selling, distribution and general expenses all boosted in the second quarter because of its expansion “across product categories and geographies” and rising depreciation costs from earlier investments.
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