|05 April, 2020

Almarai reports 14% higher net profits in Q1

On a quarterly basis, the company's net profits surged by 22.8% during in Q1 2020

A man looks at dairy products produced by Almarai at a grocery in Riyadh, Saudi Arabia June 2, 2016. Image used for illustrative purpose.

A man looks at dairy products produced by Almarai at a grocery in Riyadh, Saudi Arabia June 2, 2016. Image used for illustrative purpose.

REUTERS/Faisal Al Nasser - RTSGJ5Z

The company's sales reached SAR 3.592 billion in the Q1-2020

Riyadh – Mubasher: Almarai Company has reported a 14% increase in net profits after zakat and tax to SAR 383 million during the first quarter of 2020, compared to SAR 336 million in the same period of 2019, the company's condensed consolidated interim financial results showed.

The company's sales reached SAR 3.592 billion in Q1-20, up by 8.6% from SAR 3.308 billion during the corresponding quarter of 2019, according to a bourse statement on Sunday.

On a quarterly basis, the company's net profits surged by 22.8% during in Q1-20 from SAR 311.9 million during the earlier quarter.

It is noteworthy to mention that in 2019, the company saw a 9.95% decline in net profits to SAR 1.811 billion in 2019, compared to SAR 2.012 billion in 2018.

Source: Mubasher

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