almarai records high profit in Q1 CY22 dairynews7x7

Saudi-based dairy giant Almarai has recorded a 9-percent increase in profit for the first quarter of 2022 on the back of higher revenue.

Net profit rose to SR420 million ($112 million) from SR385 million a year ago, a bourse statement revealed.

Results were attributed to a hike in revenue of 23.6 percent and gross profit of 7.8 percent, even as selling and administration expenses went up.

Almarai is the Middle East’s leading food and beverage manufacturer and distributor – and the world’s largest vertically integrated dairy company. Since our foundation in 1977, consumers across the region have come to recognise the Almarai brand as synonymous with quality.

A quality culture exists throughout the Company. It begins with strategic decision-making by the Board of Directors and senior management, extends across our farming, manufacturing and distribution operations and is integral to the development of our employees’ professional skills. We have similarly high expectations of our suppliers and vendors, and exercise rigorous quality control measures across our procurement activities.

Source : Arab News , 10th April 2022