Saudi food group Almarai had booked an increase in second-quarter profits on the back of a jump in sales, which were up more than one-quarter.
Almarai said net profit rose by 8.7% in the three months to 30 June, while operating profit increased by 7.1% year-on-year.
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Profit growth was driven by higher sales in the period, with were up 25.4% compared to the same period last year.
Almarai said revenues were boosted by product development and improved customer service, which allowed the group to book higher turnover in “all sectors” – particularly bakery and poultry.
For the first time, the group also fully consolidated the results from IDJ, in which it holds a majority stake.
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By GlobalData
