Almarai records revenue growth in all categories, expects momentum to continue at lower rate

Almarai headquarters

Almarai Co. reported positive revenue growth across the board in all geographical regions in 2022.

In a statement to Tadawul, the dairy and juice producer said it expects this positive momentum to continue, but at a lower rate in the future, as the company enters a normalized consumption pattern after the reopening of education institutions and resumption of tourism activities.

It added that key risks remain surging cost inflation for dairy and feed commodities.

“We continue to see parts of global supply chain remaining under stress although some areas are now showing signs of stability,” Almarai added, noting that it will continue to manage these risks by better hedging activities and leveraging its stock.

Almarai reported a rise of 13% in net profit after Zakat and tax to SAR 1.75 billion for 2022, compared to SAR 1.56 billion in 2021. The fourth-quarter earnings reached SAR 355.8 million, Argaam reported.