(MENAFN) Saudi Arabia's Almarai, the Gulf's biggest dairy firm, recorded a profit of about USD141.43 million in the second quarter of the year, marking an increase by 22.41 percent, Reuters reported.
The company went up significantly from the USD115.37 million profit logged in the first quarter, mainly driven by 11 percent growth in sales and a USD117.93 million insurance payment due to a fire reported earlier this year.
In May, The dairy firm announced its board approval of a capital investment plan which will reach USD5.6 billion in the upcoming five years.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.