(MENAFN - Khaleej Times) The firm said second-quarter sales rose 14.
Saudi Arabia’s Almarai the Gulf’s largest dairy company reported an 8.8 per cent increase in second-quarter net profit on Sunday as sales rose.
Almarai made a profit of SR433.3 million (115.5 million) in the three months to June 30 up from SR398.2 million in the year-earlier period according to a statement to Riyadh’s bourse.
The firm said second-quarter sales rose 14.4 per cent to SR3.29 billion from higher sales in core parts of the business.
Almarai’s selling distribution and general expenses all increased in the second quarter because of its expansion “across product categories and geographies” and rising depreciation costs from earlier investments. This meant Almarai’s net profit margin fell to 13.2 per cent of sales in the second quarter from 13.9 per cent in the corresponding period of 2013.