Dubai: Saudi Arabia’s Almarai, the Gulf region’s largest dairy company, reported an 22.41 per cent increase in second-quarter net profit on Sunday. Almarai made a profit of 530.4 million riyals ($141.43 million; Dh518.7 million)in the three months to June 30, up from 433.3 million riyals in the year-earlier period, according to a bourse statement. Second-quarter sales growth of 11 per cent and a 442.9 million riyals gain from an insurance claim related to an earlier bakery fire helped lift results. The dairy firm in May said its board approved a capital investment plan which will reach 21 bilion riyals in the next five years.
Almarai Q2 profit up 22.41% on higher sales growth
Saudi firm made a profit of 530.4m riyals ($141.43m)in the three months to June 30