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.