Saudi dairy profits riseThis article was originally published in Foodnews
SAUDI Arabian dairy Almarai Co has announced a net profit of SAR162.2 million (US$43 million) for the third quarter ending 31 March. This translates to a rise of 32%, the slowest rate of growth for the company in at least a year, according to Reuters' analysts. According to a company statement, this is attributed to investments made by the company to increase its capacities and competitiveness. Last year, Almarai announced that it would invest SAR4.7 billion in the five years ending 2011 to boost its foodstuff business in the Gulf. Third quarter turnover rose 39% to SAR1.12 billion.