Gulf's largest dairy company made a profit of $141m in the three months to June 30
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 530.4 million riyals ($141.43 million) in the three months to June 30, up from 433.3 million riyals in the year-earlier period, according to a bourse statement.
Second-quarter sales growth of 11 percent and a 442.9 million riyals 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 21 bilion riyals ($5.6 billion) in the next five years.For all the latest retail news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.