Saudi’s Almarai posts 10.5% Q2 profit rise, warns of ‘significant’ challenges for H2
Saudi Arabian food company Almarai reported a 10.54% increase in net profit for the three months ending June 30 compared to the same quarter last year.
Net profit attributable to shareholders reached 643.9 million riyals ($171.7 million) versus 582.5 million riyals for the same quarter in 2019, the company reported in a bourse filing on Sunday (Jul 5).
Almarai attributes the rise to revenue growth led by foods, long life dairy and poultry.
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