The preliminary data of Almarai Company revealed on Tadawul, today, Sunday, the net profit decreased to about 336 million riyals, compared to 344.9 million riyals for the corresponding period.
where the company's profits decreased by 2.58% during the first quarter of 2019, compared to the same quarter of 2018, and profits fell 9% compared to the previous quarter.
Almarai attributed the decline in net profit to higher input costs, mainly feed, along with higher selling and distribution expenses, and indicated that revenue increased led by the poultry sector, which recorded a profit of 67%. .5%, and this mainly comes as a result of the 19.4% increase in sales, which came with support from the Food Services and Supply Channel. The bakery sector followed, which increased by 23.1% due to revenue growth of 6.1%, led by the volume of sales.
The company also noted that in 2019, the general weakness in the dairy and juice market continued.
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