Saudi dairy group Almarai Co. has posted a jump in full-year profits thanks in part to expansion into the bakery business.
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The company today (21 January) booked operating profit of SAR780.7m (US$208.2m) for 2007, a leap of 46%. Sales climbed 43.6% to SAR667.3m.
The company’s founder, Prince Sultan bin Mohammed bin Saud Al Kabeer, said: “The decision to expand into the bakery business, through the acquisition of Western Bakeries, has made a significant contribution to the performance of 2007.”
