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Almarai’s net profits exceed SAR 2bn in 2023 results

Almarai’s net profits exceed SAR 2bn in 2023 results
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Riyadh – Mubasher: The net profits after Zakat and tax of Almarai Company surged by 16.43% year-on-year (YoY) to SAR 2.04 billion in 2023 from SAR 1.75 billion, according to the consolidated financial results.

The Saudi firm posted revenues valued at SAR 19.57 billion as of 31 December 2023, up 4.55% YoY from SAR 18.72 billion.

Meanwhile, the earnings per share (EPS) grew to SAR 2.08 last year from SAR 1.79 in 2022.

Financial Statements for Q4-23

In the fourth quarter (Q4) of 2023, Almarai logged net profits amounting to SAR 370.71 million, an annual rise of 4.18% from SAR 355.82 million.

Revenues edged up by 1.66% to SAR 4.91 billion during October-December 2023 from SAR 4.83 billion in the year-ago period.

Quarter-on-quarter (QoQ), the Q4-23 net profits shrank by 23.76% from SAR 486.26 million in July-September 2023, while the revenues climbed by 2.56% from SAR 4.79 billion.