DUBAI, Oct 8 (Reuters) - Saudi Arabia's Almarai, the Gulf's largest dairy company, reported a 10.3 percent rise in third-quarter net profit on Thursday that was slightly below estimates despite increased sales.
Almarai made a profit of 595.1 million riyals ($158.7 million) in the three months to Sept. 30, up from 539.4 million riyals in the year-earlier period, according to a bourse statement.
Six analysts polled by Reuters had forecast on average that Almarai would make a quarterly profit of 602.9 million riyals.
The company, which sold a 1.6 billion riyal sukuk in September, said quarterly sales rose 7.8 percent to 3.52 billion riyals.
($1 = 3.7496 riyals)
(Reporting by Nadia Saleem; editing by Matt Smith) ((nadia.saleem@thomsonreuters.com; +97143664256; Reuters Messaging: nadia.saleem.thomsonreuteres@reuters.net))
Almarai made a profit of 595.1 million riyals ($158.7 million) in the three months to Sept. 30, up from 539.4 million riyals in the year-earlier period, according to a bourse statement.
Six analysts polled by Reuters had forecast on average that Almarai would make a quarterly profit of 602.9 million riyals.
The company, which sold a 1.6 billion riyal sukuk in September, said quarterly sales rose 7.8 percent to 3.52 billion riyals.
($1 = 3.7496 riyals)
(Reporting by Nadia Saleem; editing by Matt Smith) ((nadia.saleem@thomsonreuters.com; +97143664256; Reuters Messaging: nadia.saleem.thomsonreuteres@reuters.net))
