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FINANCIAL NEWS
Saudi Almarai’s profit grows by 18.6 percent
18 Jul 2016
(MENAFN) Almarai, the Gulf’s main dairy firm, posted an 18.6 percent increase in Q2 net profit, emphasizing the benefits of stronger sales and lower commodity prices.
Meanwhile, the company will continue to exercise caution on its cash-flow generation while focusing on its planned targets and enhance whole efficiency.
Additionally, the firm made a profit of USD167.7mn in the three months to June 30, up from USD141.31mn in the year-earlier period.
On the other hand, the firm’s sales grew by 10.3 percent, while the cost of sales increased at a lower rate than sales due to low commodity prices.
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