The financial statements of Almarai revealed that the company's profits in the third quarter of this year increased by 13.2% on an annual basis compared to the profits of the third quarter of last year.
According to company data for the Saudi market (Tadawul), today, Sunday, Almarai recorded profits of 463.17 million riyals in the third quarter of this year, compared to 409.09 million riyals in profits for the same period in 2021.
Almarai said in a statement to the market that the increase in profits during the comparison periods is due to the revenue growth of 21%, driven by the growth in the poultry and bakery sectors.
Almarai explained that the positive growth in revenues was evident in all sectors due to the improvement in commercial conditions after the (Covid-19) pandemic and the restrictions imposed during it, as well as the re-opening of educational institutions, and the increase in the number of visitors to the region.
Almarai indicated that the operating profits also increased during the comparison periods by 11.6%, at a lower rate than the growth of the gross profit, despite the control over the operating costs due to an agricultural investment abroad.
On the other hand, Almarai achieved profits - after zakat and tax - of 1.404 billion riyals in the first nine months of this year, compared to 1.277 billion riyals in the same period of 2021, with an increase in profits by almost 10%.
