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Almarai posts $112m profit in Q1

  • The Saudi dairy giant posted the jump in profit for the first quarter of 2022 on the back of higher revenue
  • Results were attributed to a hike in revenue of 23.6 percent and gross profit of 7.8 percent, even as selling and administration expenses went up

Almarai posts nine percent jump in net profit to $112 million.

The Saudi dairy giant has recorded a 9-percent increase in profit for the first quarter of 2022 on the back of higher revenue.

Net profit rose to SR420 million ($112 million) from SR385 million a year ago, a bourse statement revealed.

Results were attributed to a hike in revenue of 23.6 percent and gross profit of 7.8 percent, even as selling and administration expenses went up.