Almarai profit up 12% to SAR 1.88B in 9M 2024; Q3 at SAR 570.4M

Almarai Co. reported a net profit of SAR 1.88 billion in the first nine months of 2024, up 12% from SAR 1.67 billion a year earlier, driven by higher revenue growth, disciplined cost control, a favorable product mix, and stable commodity costs.

Dairy & juice segment’s profit increased year-on-year (YoY) due to an improved sales mix across the board. In addition, tighter cost controls underpinned bottom line growth.

Bakery segment’s net profit grew YoY on higher revenue and better production efficiencies. The poultry segment also posted a rise in net profit YoY due to continued production optimization and improved economies of scale.

Meanwhile, the strong performance in core GCC markets resulted in an 8% growth for the group, with contribution from all segments, led by fresh dairy and poultry.

The third-quarter net profit grew 17% YoY to SAR 570.4 million as revenue increased 9% YoY on strong volume growth due to the positive contribution from all product categories.

The Q3 2024 earnings dropped 7.9% from SAR 619.69 million in the previous quarter.

Total shareholders’ equity, after excluding minority interest, reached SAR 18.55 billion as of Sept. 30, 2024, compared to SAR 17.49 billion a year earlier.

Attached Documents:

View More Financial Results