DUBAI, June 28 (Reuters) - Almarai
The Saudi Arabian company had already received 250 million riyals from Arabian Shield Cooperative Insurance Co
This March award would be offset against the amount agreed with the insurer on June 27, which was net of policy excesses, Almarai said in its statement.
It added that the settlement would have a neutral effect on its second-quarter earnings as the award would be used to offset "various partial assets write-off and goodwill amortisation". It did not elaborate.
The fire in October 2014 caused "significant" damage at one of Almarai's bakeries in Jeddah, it said at the time, although the firm noted in November that the fire should not have any "material adverse impact" on its finances.
($1 = 3.7504 riyals)
(Reporting by David French; Editing by Andrew Torchia) ((davidj.french@thomsonreuters.com; +971 4 362 5864; Reuters Messaging: davidj.french.thomsonreuters.com@reuters.net))
Keywords: ALMARAI RESULTS/FIRE