(MENAFN) Saudi Arabia's Almarai, the Gulf's major dairy Co. stated a 13 percent increase in fourth-quarter net income, in line with analyst estimates as sales increased faster than costs.
Moreover, the Co. made a profit of USD 129.06mn in the three months to Dec.31, up from USD 114.07mn in the year-earlier period.
Accordingly, Almarai sales were USD 0.95bn, versus USD 0.88bn in the same period of 2014, and the costs of sales increased due to improving in-put costs.
The Company planned to hike its dividend for 2015 and grow its share capital by 33 percent over the issuance of bonus shares to help support its growth plans.
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