SAUDI: Bakery, poultry boosts Almarai FY profit
- Net profit up 26%
- Operating profit climbs 9.9%
- Net sales grow 24.3%
Sales in Almarai's bakery division increased 24%
Saudi food group Almarai has booked an increase in full-year profits, boosted by sales of baked goods and poultry.
Earnings in the 12 months to the end of December climbed by 26% on the previous year, to SAR1.44bn (US$384m), the company reported at the weekend. Almarai said it recorded a strong performance in its bakery and poultry divisions.
Operating profit was up by 9.9% to SAR1.67bn, while net sales grew by 24.3% to SAR9.88bn.
Sales in the firm's bakery division increased by 24% to SAR1.29bn, while poultry sales jumped by 58% to SAR504.3m in the period.
Almarai is among the leading players in packaged food in the UAE and ranks first in dairy products. Having established a new subsidiary in the UAE in 2012, the company is expected to have an even stro...
Almarai Co Ltd is set for consistent growth over the forecast period, given the company’s massive domestic production capabilities as well as world-class supply chain system. The company has been inve...
Dairy in Saudi Arabia industry profile provides top-line qualitative and quantitative summary information including: market size (value 2007-11, and forecast to 2016). The profile also contains descri...
Dairy in United Arab Emirates industry profile provides top-line qualitative and quantitative summary information including: market size (value 2007-11, and forecast to 2016). The profile also contain...
Cheese is expected to record impressive growth in 2012, up by 13% in current value and by 7% in volume. The growth was largely attributed to strong companies activities, particularly the increased foc...
During the review period, rising awareness of the risk factors associated with obesity, heart disease and similar diet-related conditions led more and more Saudi consumers to switch to healthier types...
2012 saw other dairy witness aggressive new product development in different categories. Almarai introduced its sour cream in mid-2012 whereas Al Safi Danone entered the market of chilled sour cream b...
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