Saudi Almarai posts 18.6% hike in Q1 profit

11 Apr 2010

(MENAFN) Saudi Arabia’s Almarai Company announced that its net profit rose to $62.43 million in the first quarter, an 18.6 percent year-on-year increase, Reuters reported.

The company’s $62.43 million net profit compares to a net profit of $52.63 million in the first quarter last year, according to a statement released on the Saudi bourse website.

Reuters’ forecasts for the company ranged between $61.46million and $94.65 million. It is worth mentioning that Almarai Company is the Gulf’s largest dairy firm by market value.

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