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Almarai Q1 net profit up, in line with forecasts

KSA Business


Saudi Arabia's Almarai, the Gulf's largest dairy company, reported a 0.65 percent increase in first-quarter net profit on Sunday, broadly in line with analysts' forecasts.

Almarai made a profit of SR308.5 million ($82.3 million) in the three months to March 31, up from SR306.5 million in the year-earlier period, according to a bourse statement.

Five analysts polled by Reuters had forecast on average that Almarai would make a quarterly profit of SR302 million. - Reuters

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