date:Oct 16, 2012
Strong performance in bakery and poultry helped Saudi food firm Almarai to an increase profits in the three months ending 30 September.
Almarai said that third-quarter profits were up 4.7% to SAR450 million ($120 million) and operating profit rose 6.6% to SAR508.6 million. Sales surged 27% to SAR2.67 billion.
The firm added that its results were boosted by the acquisition of a majority stake in its dairy and juice joint venture with PepsiCo. Almarai upped its share of IDJ from 48% to 52% in Ma