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Saudi Almarai posts 11% profit rise in 2014

Saudi Almarai posts 11% profit rise in 2014
ALMARAI
2280
3.62% 57.20 2.00

Saudi Arabia’s dairy producer Almarai Co. posted financial results for the fourth quarter of 2014, showing that net profit amounted to SAR 428 million, with a rise by 14.65% from SAR 373.3 million in Q4-13 but with a decline by 20.65% from SAR 539.4 million in Q3-14.

Net profit for FY14 amounted to SAR 1,647.3 million, representing a rise by 11.46% from SAR 1,502.2 million a year earlier.

The company ascribed Q4 profit rise year-over-year to higher sales and the decline quarter-on-quarter to a rise in sales and distribution costs that led to lower operating profit.

Photo Credit: Arabianeye-Reuters