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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
11/12/2017
The Board of Directors of Almarai Company, during its meeting on 11th December 2017, has decided to recommend to the General Shareholders Assembly a payment of dividend for the financial year 2017 as
Tadawul
25/10/2017
Saudi Arabia's Almarai, the largest dairy company in the Gulf, has reported a gross profit for the third quarter of SR1.51 billion ($404.24 million), an increase of 2.1 per cent as compared to the SR
Trade Arabia
22/10/2017
Saudi Arabia's Almarai, the Gulf's largest dairy company, reported a flat third-quarter net profit on Sunday, and warned it remained cautious on the year due to adverse market conditions.
Reuters
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| FADECO | 76.00 | -2.00 (-2.57 |
| SAVOLAGROUP | 30.50 | -0.75 (-2.40 |
| BALADY | 279.00 | -1.00 (-0.36 |
| SADAFCO | 313.00 | -1.20 (-0.39 |
| NADEC | 23.16 | -0.18 (-0.78 |
22/04/2025
Chairman of the Board of Directors of Doha Bank, Sheikh Fahad bin Mohammad bin Jabor Al Thani, announced that the board of directors in its meeting held yesterday, has approved the Bank's Interim Con
The Peninsula
22/04/2025
Estithmar Holding Q.P.S.C. announced a net profit of QAR 170 million for Q1 2025, reflecting a significant 50% increase compared to the same period last year. The company highlighted a 64% surge in r
The Peninsula
22/04/2025
Vodafone Qatar's net profits rose by 8.1 percent during the first three months of this year, reaching QR 162.3 million, compared to QR 150.1 million for the same period last year.
The compan
QNA
22/04/2025
RAKBank's total assets increased by Dh12.2 billion, reflecting a growth of 15.5 per cent compared to the first quarter of 2024.
The National Bank of Ras Al Khaimah (RAKBank) on Monday annou
Khaleej Times
21/04/2025
Adnoc Drilling, the UAE's leading drilling services provider, has clinched a $1.63 billion, five-year contract from Adnoc Offshore to deliver integrated drilling services (IDS).
Announced on
Khaleej Times
Financial Information Co.
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