Almarai expects to gain greater market share

Logo of Almarai Co. 

Almarai Co. expects its core business to continue to gain greater market share through its key sectors in strategic products and regions, and to explore additional opportunities for growth and investment in line with its strategy for the next five years.

Stable market conditions and strong trading performance played a major role during 2023, allowing Almarai to achieve profits exceeding SAR 2 billion, the company said in a statement.

Almarai launched many new products during the year and entered the seafood and frozen baked goods sectors.

The growth in the company’s net profits was achieved through the expansion of its product range, increasing its investments in marketing activities, enhancing communication with consumers, as well as the continued focus on operational efficiency.

According to data available on Argaam, Almarai reported a rise of 16% in net profit to SAR 2.04 billion for 2023, compared to SAR 1.75 billion in 2022.