Almarai Co. has reported a net profit after Zakat and tax of SAR 1.404 billion for the first nine months of 2022; a 10% year-on-year (YoY) rise from SAR 1.277 billion.
The preliminary financial results of Almarai Company showed that its net profit increased by 13% in the third quarter of 2022, to about 463 million riyals, compared to about 409 million riyals in the same quarter of 2021.
Almarai Company said, “The increase in profits in the third quarter of 2022, on an annual basis, is due to revenue growth of 21.0%, driven by the growth in the poultry and bakery sectors.”
The positive growth in revenue was evident in all sectors due to the improvement in business conditions after the 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. The company added.