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Almarai posts profit in Q3

The dairy giant attributed its higher profit to 20-percent revenue growth, driven mainly by poultry and bakery revenue growth. (Just Food)
By TRENDS Desk
October 10, 2022 11:49 am
  • However, the company's stock took a dip, falling 4.15 percent to end the session at SR53.10
  • The company said positive revenue growth was also witnessed across all categories after the removal of COVID-19 movement restrictions and the re-opening of educational institutions

Riyadh, Saudi Arabia—Almarai of Saudi Arabia has posted a ten percent jump in net profit to $372 million in the third quarter of the current years, fueled by a surge in revenue.

However, the company’s stock took a dip, falling 4.15 percent to end the session at SR53.10.

According to a bourse filing, the dairy giant attributed its higher profit to 20-percent revenue growth, driven mainly by poultry and bakery revenue growth,

Positive revenue growth was also witnessed across all categories following the removal of COVID-19 movement restrictions, the re-opening of educational institutions and higher visitor numbers, it said.

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