REPORTS

Saudi’s Almarai CEO speaks about the company’s performance

Monday, 10 October 2016

Saudi Arabia’s Almarai, the Gulf’s largest dairy company, reported a 10 per cent rise in third-quarter net profit on Sunday, broadly meeting analysts’ forecasts with the help of cost controls it said would remain a priority.

Georges Schorderet, CEO of Almarai Co told Al Arabiya, in an interview, that the company would continue to focus on cost controls and preserving cash flow because of the changing economic environment.

For the third quarter, Almarai reported a 17.4% jump in revenues from its bakery business on the back of "successful" new products.

The growth in Almarai's bakery business helped offset a 9.4% decline in sales from poultry, which contributed to the losses from the division widening

 

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