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Saudi Almarai to post notable increase in Q1 net profit

11 Apr 2016

(MENAFN) Higher sales supported Saudi Arabia’s Almarai to record a marginal rise in Q1 net profit, while the Gulf’s major dairy firm warned of challenging conditions.

Furthermore, Saudi firms are dealing with a slump in oil prices, which are putting government and consumer spending under stress.

Additionally, the firm made a profit of USD 82.23mn in the cited quarter, an increase from USD 81.70mn in the same period last year.

The company’s sales remained strong, with a 13.6 percent increase on the back of growth for its dairy and juice, bakery and poultry segments.

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