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FINANCIAL NEWS
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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