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21/01/2018 10:18 AST
Saudi Arabia's Almarai, the Gulf's largest dairy company, reported a 4.3 percent decline in fourth-quarter profit on Sunday due to tough market conditions that prevailed throughout 2017, missing some analysts' estimates.
Almarai made a net profit of 513 million riyals ($136.8 million) in the three months to December 31, compared to a net profit of 536 million riyals in the year-earlier period.
SICO Bahrain had projected a net profit of 549.5 million riyals for Almarai and NCB Capital had forecast 531 million riyals.
Almarai said market competition has intensified leading to pressures on prices, but it protected its operating profit and its balance sheet with strict cost control and a reduced investment level. Almarai has lost access to the Qatari market since June after Saudi Arabia severed trade and travel links with its neighbour in the Gulf's most severe diplomatic split in years.
The company said revenue declined 2.6 percent, mainly due to loss of sales in the Gulf states and export countries, though sales were partly compensated by poultry, dairy and cheese products.
Reuters
16/09/2025
Dar Al Majdiah Real Estate Company (Al Majdiah) has signed two contracts with Tatweej Contracting Company to implement two residential projects - one each in Riyadh and Jeddah - as part of the compan
Trade Arabia
22/08/2025
For the third consecutive year, Almarai has been recognized as the fourth most valuable dairy company worldwide for 2025 by Brand Finance, the industry leader in brand valuation.
This rankin
Saudi Gazette
16/06/2025
Saudi dairy giant Almarai has signed an agreement to fully acquire Pure Beverages Industry Co. for SR1.04 billion ($277 million), aiming to diversify its offerings and enhance its market position. <
Arab News
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| FADECO | 15.49 | 0.00 (0.00 |
| SADAFCO | 245.20 | -0.80 (-0.33 |
| SAVOLAGROUP | 26.62 | 0.02 (0.07 |
| NOFOTH | 146.00 | 6.00 (4.28 |
| NADEC | 19.39 | 0.04 (0.20 |
21/11/2025
Zain Bahrain has unveiled 360kW ultra-fast EV chargers at the company's headquarters in Seef, the fastest of its kind in the kingdom, the company said.
The chargers feature advanced liquid-c
Trade Arabia
21/11/2025
Space42, the UAE's leading AI-powered SpaceTech company with global reach, and EDGE Group, one of the world's leading advanced technology and defence groups, today announced the formation of a strate
Trade Arabia
21/11/2025
Baker Hughes, an energy technology company, has announced that it has secured a multi-year contract with China Petroleum Engineering & Construction Corporation (CPECC) for a major project of Saudi oi
Trade Arabia
21/11/2025
Riyad Capital, one of the kingdom's largest asset managers and a leading company in real estate investment, has announced the launch of a new residential development fund valued at SAR1.7 billion ($4
Trade Arabia
21/11/2025
Saudi-based Alkhorayef Water and Power Technologies Company has announced that it has secured a contract worth SAR221 million ($59 million) from the National Water Company for sanitary sewer networks
Trade Arabia
Financial Information Co.
Saudi Arabia