Al Abdullatif Industrial Investment Company, the kingdom’s largest producer of Carpet, Moquette and Blankets, expects its sales to grow by 8% in 2014 compared to last year.

The company also expects its net profit to rise to SAR 278m (5% higher than 2013), according to the board annual report published today.

In order to achieve this growth, the company is to expand some facilities to increase their production capacity, add new machines and use new technologies to reduce the production cost as well as targeting new markets, the report said.

In addition to this, the company intends to expand its affiliates, Al Abdullatif Training Company and Ritaj Al Waseel Company. 

Al Abdullatif reported a profit of SAR 266.8m in 2013 (SAR 3.28/ share) and declared dividends of SAR 243.75m at SAR 3 per share.