Riyadh – Mubasher: Almarai Company registered SAR 621.5 million worth of net profits in the third quarter (Q3) of 2020, up by 6.9% from SAR 581.2 million in the year-ago quarter.

Revenue amounted to SAR 3.86 billion in Q3-20, an increase of 8.1% when compared to SAR 3.57 billion in Q3-19, according to a bourse statement on Sunday.

The jump in Q3-20 profits was supported by a growth in sales of most product categories.

Meanwhile, gross profit rose by 4.9%, at a lower margin rate, selling and distribution expenses (S&D) increased by SAR 47.9 million or 8.1%, and general and administration expenses (G&A) surged by SAR 4.4 million or 5.6%.

On the other hand, financing costs decreased by SAR 13.4 million.

In the first nine months of the year, the food and beverage firm achieved SAR 1.65 billion in net profits, posting a 9.9% annual growth.