Almarai: Profit jumps in Q2/2010

Riyadh / SA. (ac) Almarai Company, the largest integrated dairy foods company in the world, posted a better-than-expected 19,5 percent rise in second-quarter consolidated net profit, beating forecasts. The company, in which The Savola Group holds a 29,9 percent stake, made 343,1 million SAR in the three months to end-June against 287,1 million SAR a year earlier, it said in a statement. Operating profit rose 15,6 percent during Q2/2010 while sales rose 20,2 percent from their level a year earlier to 1,74 billion SAR, which also marks an 11,5-percent rise from Q1/2010.