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Sat 10 Oct 2009 10:27 AM

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Saudi's Almarai Q3 profit rises 24%

Gulf region's largest dairy company boosts profits despite slowdown in sales in third quarter of 2009.

Saudi's Almarai Q3 profit rises 24%
RESULTS WATCH: Sales growth during Q3 stood at 11.4% against 16% during the second quarter. (Reuters)(Getty Images)

Saudi Arabia's
Almarai Co

, the Gulf's largest dairy company by market value, posted a 23.7 percent rise in third-quarter net profit despite a slowdown in sales.

Third-quarter net profit was SR363.4m compared with SR293.7m in the same period a year ago, the firm said in a statement on the bourse website. Sales growth during the third quarter stood at 11.4 percent against 16 percent during the second quarter. (Reuters)

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