RIYADH, 12 October 2006 — Almarai Company’s net profit for the nine-month period ended Sept. 30 increased by 20 percent to SR334.9 million compared to the same period in the prior year, according to Almarai’s financial results announced yesterday.
The net profit for Q3 increased by 21.5 percent to SR122.6 million compared to the same period last year.
“This strong result is driven by the strong growth in sales, which confirms the success of the company’s marketing and distribution strategies together with the optimal utilization of its resources,” Prince Sultan ibn Mohammed ibn Saud Al-Kabeer said.
Sales for the nine-month period increased by 32.2 percent to SR2.04 billion compared to the same period in the prior year.
Operating profit for the period increased by 22.6 percent to SR386.4 million compared to the same period in the prior year.
The earning per share (EPS) for the period ended Sept. 30 increased by 20 percent to SR3.35 compared to the same period in the prior year.
“I would like to thank the board as well as the management and employees of the company for their hard work and support in ensuring the continuing success of Almarai. Based on the results for the third quarter and the expectation of current market conditions continuing, I look forward to a very strong 2006 for Almarai,” Al-Kabeer said.