Almarai's financial statements showed that the company's profits in the second quarter of this year increased by 10.5% compared to the same period in 2019.
According to the results of the company for the Saudi market (Tadawul) today, Sunday, the profits for the period reached 643.9 million riyals, compared to the profits for the second quarter of last year of 582.5 million riyals. p>
The company said that the increase in profits during the comparison periods is due to revenue growth led by the food sector, long-term milk and poultry, as all three sectors registered double-digit growth on an annual basis.
The cost of financing also decreased by about 19 million riyals during the comparative periods, as the benefits of lower interest rates and lower levels of debt were partially offset by lower capitalization of the cost of financing on the projects program. Qualified Capitalism.
At the level of the first half of this year, the company's profits amounted to 1.023 billion riyals, compared to 918.6 million riyals for the first half of 2019, an increase of 11.8%. < / p>
The company's revenue in the first half of 2020 increased by 8.5%, to reach 7.674 billion riyals, compared to 7.074 billion riyals in the same period in 2019.
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