Friday, 03 December 2021 01:53 GMT

Saudi Arabia’s Almarai declines in 1st 9 months of 2021


(MENAFN) Saudi Arabia’s Almarai marked a 22.5 percent drop in revenue in the January-September period of 2021, in comparison to the previous year same time span, as the pandemic and value-added tax (VAT) weigh in on revenues.

According to dairy giant in a Tadawul filing, in the mentioned period, its net profit amounted at SR1.28 billion, in comparison to SR1.65 billion in 2020.

It also stated that the decrease was a result to the base year effect of the pandemic, in addition to VAT-related changes in purchases.

Gross profit decreased 10.1 percent attributable to alterations made because of subsidy fall. 


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.