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12-03-14

Saudi food, cargo listed firms see 2.4 percent rise in sales

(MENAFN) Saudi food and cargo firms saw a significant rise in sales by 2.4 percent to reach USD12.184 billion in 2013, up from USD11.898 billion in 2012, according to Arab News. Profits of food and cargo industry sector boosted by 14 percent to reach USD1.173 billion during the same year compared to USD1.039 billion in 2012. The firms' market capitalization reached USD26.60 billion, or 5.3 percent of the Saudi market value. Almarai Company ranked first in increased it profits, which increased by 4.3 percent to USD399 million in 2013 compared to USD383 million in 2012.