almarai’s net profit rises 186 in q2
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Almarai’s net profit rises 18.6% in Q2

Arab Today, arab today

Arab Today, arab today Almarai’s net profit rises 18.6% in Q2

Almarai’s net profit rises 18.6% in Q2
Dubai - Arab Today

Almarai, the Gulf’s largest dairy company, reported an 18.6 percent increase in second-quarter net profit on Sunday, beating analysts' forecasts, showing the benefits of stronger sales and lower commodity prices.
But the company said it would continue to exercise caution due to competitive market conditions in Saudi Arabia, where a slump in oil prices has put pressure on government and consumer spending.
"Given the very competitive market conditions driven by the economic slowdown going forward, the company will continue to exercise caution on its cash-flow generation while focusing on its strategic targets and enhance overall efficiency," it said in a statement.
Almarai made a profit of SR628.8 million ($167.7 million) in the three months to June 30, up from SR530.4 million in the year-earlier period, it said in a statement.
Four analysts polled by Reuters had forecast on average that Almarai would make a quarterly profit of SR530.3 million.
Almarai's shares rose by 2.7 percent in early trading.
The company's sales increased by 10.3 percent, with growth strongest in poultry, bakery, dairy and juice.
The company's cost of sales rose at a lower rate than sales because low commodity prices, improvements in cost management and production savings helped to offset rises in fuel and electricity costs.
Almarai's performance was also boosted by the timing of the Islamic holy month of Ramadan, when consumers usually increase purchases of food and drink products. This year, Ramadan took place predominantly during the second quarter, while last year there was a greater split between the second and third quarters.

Source: Arab News

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

almarai’s net profit rises 186 in q2 almarai’s net profit rises 186 in q2

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

almarai’s net profit rises 186 in q2 almarai’s net profit rises 186 in q2

 



GMT 06:49 2012 Saturday ,01 September

Lamitta Frangieh on her \'Facebook Romance\'

GMT 08:26 2017 Wednesday ,08 February

Qatar spending $500m a week on World Cup projects

GMT 17:00 2017 Tuesday ,27 June

Saudi Arabia rebuts fake news on Turkey, Israel

GMT 10:31 2016 Monday ,12 December

Second Sydney airport cleared for take off

GMT 05:27 2017 Sunday ,16 April

GIB Capital wins 4 EMEA Finance Awards

GMT 13:58 2016 Friday ,30 December

Australia beat Pakistan to win Test series

GMT 10:07 2017 Monday ,17 April

Mark Hamill would like to play George Lucas

GMT 12:10 2016 Tuesday ,13 December

Over 30 dead as Kenya tanker crashes, explodes

GMT 02:13 2017 Monday ,25 September

December22nd-January20th

GMT 15:39 2017 Tuesday ,03 October

Bangladesh rescues 20 Rohingya held by racket gang

GMT 02:51 2017 Friday ,10 November

Under siege, Syria doctors forced to improvise care
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday