Riyadh – Mubasher: The consolidated net profit of Almarai Company rose by 10.04% year-on-year (YoY) to SAR 1.31 billion during the first half (H1) of 2024 from SAR 1.19 billion.

The company’s revenue grew by 7.65% YoY to SAR 10.61 billion in H1-24 from SAR 9.85 billion in H1-23, according to interim condensed consolidated financial results.

The earnings per share (EPS) amounted to SAR 1.33 from January until the end of June, from SAR 1.21 in the corresponding period a year earlier.

Second Quarter

During the second quarter (Q2) of 2024, Almarai’s net profit increased by 11.28% to SAR 619.69 million from SAR 557.08 million.

Sales rose by 7.55% to SAR 5.15 billion in Q2-24 from SAR 4.79 billion.

Quarter-on-quarter (QoQ), the company’s net profit dropped by 10.47% in Q2-24 from SAR 692.22 million in previous quarter, while sales declined by 5.56% from SAR 5.45 billion.

In Q1-24, Almarai posted a net profit of SAR 692.22 million, up 9% YoY from SAR 635.05 million.