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FinancialNews


  • 06-04-20

    Saudi dairy producer Almarai Co.'s consolidated net profit rises 14 percent

    (MENAFN) In the first quarter of this year, Saudi dairy producer Almarai Co.'s consolidated net profit after Zakat and tax increased 14 percent yearly to SAR 383 million on the back of higher income spearheaded by foods, long-life dairy and poultry.


    The 1st quarter of 2020's net income was also boosted by higher gross income by 7.7 percent, increased input costs, lower other expenses by SAR 15.9 million, and steady finance costs.


    This was partially balanced by a rise in selling and distribution expenses by SAR 47 million and general and administrative expenses by 5.4 percent, and a climb in impairment of financial assets by SAR 26.7 million.


    Income from the bakery and poultry divisions grew 20.9 percent and 72.4 percent year by year respectively.

    MENAFN0604202000450000ID1099975917

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