Saudi dairy group Almarai has booked a 19.5% increase in second-quarter profits on the back of higher sales and market share gains.
Almarai posted net profit of SAR343.1m (US$91.5m) for the three months to the end of June – an increase of 19.5% – after sales climbed 20.2% to SAR1.74bn.
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Almarai’s second-quarter operating profit was up 15.6% at SAR387.7m, the company said on Saturday (10 July).
“This performance is the result of increased sales and market share arising from Almarai’s ability to serve its customers with consistently high-quality products due to the ongoing investment in production and distribution capacities,” Almarai said.
Almarai’s first-half net profit was up 19.1% at SAR577.2m; operating profit increased by 14.1% to SAR665.8m. Turnover climbed 18.9% to SAR3.3bn.
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