Net profit dropped from SR1.98 billion ($529 million) to SR1.56 billion on an annual basis, a bourse statement by the dairy giant revealed.
Its gross profit was down 8.6 percent due to structural reforms of subsidy reduction
This followed a challenging year for Almarai amid rising COVID-19 repercussions and supply chain disruptions as well as VAT-related changes in purchases.
Copyright: Arab News © 2022 All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).