Saudi food group Almarai has booked an increase in first-quarter net profit, boosted by sales growth in each of its divisions.
In the three months to the end of March, Almarai generated a net profit of SAR255.1m (US$68m), an increase of 5.4% on last year. The company attributed the increase to stronger revenue growth across all its categories, led by its poultry business.
Operating profit grew 2.9% to SAR300.8m, while sales were up 18.2% to SAR2.04bn, partially offset by higher overheads.
Almarai said it was “satisfied” with its operating performance in the quarter.