Saudi dairy giant posts 4.9% rise in Q2 profit

Almarai, the largest dairy producer in the Gulf, attributes rise to continued growth in core business
(Photo for illustrative purposes only)
By Reuters
Sun 07 Jul 2013 11:57 AM

Saudi Arabian dairy company Almarai said on Sunday its second-quarter net profit rose 4.9 percent to SR398.2m ($106.2m), narrowly missing analyst forecasts.

The company, the largest dairy producer in the Gulf, attributed the rise in net income to continued growth in its core business, which also includes juice and bakery products.

Nine analysts polled by Reuters had forecast on average that Almarai would record net profit of SR403m in the quarter.

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