Saudi Arabian dairy company Almarai Co. has posted a 42.3% rise in second-quarter net profit as a result of continued sales growth.

Consolidated net profit for the period ended 30 June 2008 rose to SAR235.2m (US$62.7m) compared to SAR165.3m for the same period last year.

"These positive results are due to the success of the company's investment plans to achieve continuing growth in sales and net profits, and at diversifying its sources of revenue," Almarai said.

Sales for the period amounted to SAR2.4bn compared to SAR1.7bn for the previous year, representing an increase of 38.2%.

The Saudi company approved a capital investment plan estimated at SAR6bn for the period 2009 to 2013 in a bid to further strengthen its position in the region, as well as ensuring the company's continued strong profit growth and return on investment.