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.
- How Hormel Foods can benefit from Justin's
- Colian hungry for international growth - interview
- The balancing act at Amy's Kitchen - interview
- How discounters unsettling Australia's food sector
- Tackling infant formula fraud in China
- US food labels to include "added sugars" info
- General Mills invests in another US SME
- ConAgra focusing on core with Spicetec sale
- Kraft Heinz to expand US plant
- Amy's Kitchen strikes Picard deal in four markets