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UAE- Almarai Q2 net profit up 22.41
(MENAFN- Arab News) DUBAI: Saudi Arabia's Almarai the Gulf's largest dairy company reported an 22.41 percent increase in second-quarter net profit on Sunday.
Almarai made a profit of SR530.4 million ($141.43 million)in the three months to June 30 up from SR433.3 million in the year-earlier period according to a bourse statement.
Second-quarter sales growth of 11 percent and a SR442.9 million gain from an insurance claim related to an earlier bakery fire helped lift results.
The dairy firm in May said its board approved a capital investment plan which will reach SR21 bilion ($5.6 billion) in the next five years.
Almarai made a profit of SR530.4 million ($141.43 million)in the three months to June 30 up from SR433.3 million in the year-earlier period according to a bourse statement.
Second-quarter sales growth of 11 percent and a SR442.9 million gain from an insurance claim related to an earlier bakery fire helped lift results.
The dairy firm in May said its board approved a capital investment plan which will reach SR21 bilion ($5.6 billion) in the next five years.
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