Saudi Arabia-based dairy giant Almarai has posted strong sales across product categories in the first three months of the year as demand improved following the easing of COVID-19 restrictions in the kingdom. 

Total sales/revenue for the quarter reached 4.5 billion riyals ($1.2 billion), up by 23.6 percent compared to the same period in 2021, the company told the Saudi Stock Exchange (Tadawul). Net profit also rose 8.9 percent to 420 million riyals. 

The positive performance was driven mainly by Almarai’s bakery business segment, which posted a profit growth of 79.2 percent, as well as by the dairy and juice category, which recorded a 5.9 percent increase in profit. Profit in the poultry category also increased by 9 percent. 

“[The] positive revenue growth was evident in all categories due to improved trading conditions post COVID-19 movement restrictions, opening of [schools] and higher number of visitors in the region,” Almarai said. 

(Writing by Cleofe Maceda; editing by Seban Scaria) 

Cleofe.maceda@lseg.com