| Kippreport.com

Saudi’s Almarai sees 24 percent rise in Q3 profits

October 10, 2009 4:35 by kippreport

Saudi- based dairy company Almarai, posted a 23.7 percent increase in third-quarter net profit from SAR293.7 million in the same period last year to SAR363.4 million this year, reports Reuters. The company’s operating profit also rose 26 percent to SAR413.9 million riyals.

However, sales growth during the period reduced, and stood at 11.4 percent during Q3 this year as compared to 16 percent during the second quarter of the year.

Tags: Almarai, increase, profits