Almarai attributes Q2 positive performance to stable trade conditions

Logo of Almarai Co.

Almarai Co. said that stability in trade conditions was a key driver for its positive financial results in the second quarter of 2023.

Most of the major risks are still represented by higher inflation in the costs of fodder and production inputs, which have moved from high levels in recent months but remain high in comparison to last year.

Such risks will continue to be managed by way of better hedging activities and optimal utilization of stockpiles, it added.

The dairy producer reported a net profit of SAR 1.19 billion in H1 2023, up 27% compared to SAR 940.8 million a year earlier. The company’s Q2 2023 net profit rose 7% to SAR 557.1 million.