Saudi dairy giant sees Q3 profit rises 5.7%

Almarai misses analysts' estimates despite strong performance in core categories
By Reuters
Sun 06 Oct 2013 02:13 PM

Saudi Arabia's Almarai reported a 5.7 percent rise in third-quarter net profit on Sunday, missing analysts' estimates despite what the company described as "the strong performance of core dairy and juice categories".

The dairy producer made a net profit of 475.6 million riyals for the three months to Sept. 30, up from 450 million riyals in the year earlier period, according to a statement to the Saudi bourse.

Analyst polled by Reuters on average forecast Almarai would make a quarterly profit of 483.3 million riyals.

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