Saudi Arabia’s Almarai, a leading F&B brand, has reported a net profit of SR336 million ($89.5 million)in the fourth quarter (Q4) of 2020, said Al Rajhi Capital, a top provider of financial services in the kingdom.
Dairy, food and juice segment grew 5% y-o-y while poultry and bakery segment delivered a negative growth of 2% y-o-y and 9% y-o-y respectively.
The company cut down capex to SR969 million in 2020 from SR1.65 billion in 2019 and reduced net debt by 10% y-o-y to SR10.74 billion in 2020. – TradeArabia News Service
Copyright 2021 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).