Saudi food group Almarai had booked an increase in second-quarter profits on the back of a jump in sales, which were up more than one-quarter.
Almarai said net profit rose by 8.7% in the three months to 30 June, while operating profit increased by 7.1% year-on-year.
Profit growth was driven by higher sales in the period, with were up 25.4% compared to the same period last year.
Almarai said revenues were boosted by product development and improved customer service, which allowed the group to book higher turnover in "all sectors" - particularly bakery and poultry.
For the first time, the group also fully consolidated the results from IDJ, in which it holds a majority stake.
Source:
http://www.just-food.com/news/almarai-profits-up-on-sales-jump_id119718.aspx
