Riyadh – Mubasher: The Saudi-based conglomerate, Almarai Company, has been ranked the 7the place among the world’s most valuable dairy brands, according to the latest report by Brand Finance, an independent brand valuation consultancy.

The company came in the 34th place as the world’s most valuable food brands recording a 3.5% decrease in value to $2.184 billion in 2019, compared to $2.26 billion in 2018.

Brand Finance, which has been certified with ISO 10668:2010, defines brand as a marketing-related intangible asset including, but not limited to, names, terms, signs, symbols, logos, and designs, intended to identify goods, services or entities, creating distinctive images and associations in the minds of stakeholders, thereby generating economic benefits.

Earlier in July, Almarai’s preliminary financial statement showed a decline of 11.9% in profits during the second quarter of 2019, recording SAR 582.5 million.