Almarai Group: announces results for Q1/2010

Riyadh / SA. (ac) Almarai Company, the largest integrated dairy foods company in the world, announced its consolidated financial results for the period ended 31 March 2010. The Saudi Arabian Group generated a consolidated net profit for the first quarter amounting to 234,1 million SAR an increase of 18,6 percent, compared to the same period last year (197,4 million SAR) and a decrease of 5,9 percent compared to the fourth quarter 2009 (248,8 million SAR). The total gross profit for the first quarter amounted to 570,0 million SAR an increase of 12,2 percent, compared to the same period last year (508,2 million SAR). The net operating profit for the first quarter amounted to 278,2 million SAR an increase of 12,1 percent, compared to the same period last year (248,2 million SAR). The earnings per share (EPS) for three months was 2,04 SAR compared to 1,81 SAR for the prior year. Turnover for the first quarter ended 31 March 2010 amounted to 1’559,5 million SAR an increase of 17,6 percent compared to the same period last year (1’326.1 million SAR).

About: Saudi Arabian Almarai Company is engaged, together with its subsidiaries, in the production and distribution of consumer food and beverage products throughout the Middle East. The company´s main business segments consist of Dairy and Juice, Bakery, Poultry, and Arable and Horticulture. The dairy, fruit juices and related food business are marketed under the brand name Almarai, and are manufactured in Saudi Arabia and the United Arab Emirates. The bakery products are manufactured and traded by Western Bakeries Company Limited and Modern Food Industries Limited under the brand names L´Usine and 7 Days respectively. Since the acquisition of Western Bakeries in 2007, Almarai has developed its bakery business by improved distribution and product innovation. Founded 1996, Western Bakeries is employing more than 1’500 people today. The bakery with its 35’000 square meter production complex in Jeddah serves around 70 percent of stores and retail chains in Saudi Arabia producing a range of 35 products. In addition during 2009, Almarai commenced the construction of a new bakery facility in Al Kharj.