Saudi Arabia-based dairy firm Almarai has reported a consolidated net profit of SR197.4 million for the first quarter ended March 31, 2009, an increase of 21.7 percent, compared to SR162.2 million in the corresponding period of the prior year. Total gross profit for the first quarter ended March 31, 2009 amounted to SR508.2 million, an increase of 22.1 percent, compared to SR416.3 million in the comparable quarter of the prior year. Turnover for the first quarter was SR 1,326.1 million, an increase of 18.5 percent compared to SR1,119.1 million in the corresponding period last year. The operating net profit for the first quarter amounted to SR248.2 million, an increase of 27.6 million, compared to SR194.5 million in the corresponding period last year. Earnings per share for the three months ended March 31, 2009 were SR1.81, compared to SR1.49 in the year-ago period. According to the company, these results reflect its ability to implement its five-year plans to enhance productivity and market share, develop new products and upgrade its overall performance. The company said these results reflect its ability to successfully implement five year plans to enhance productivity and market share, develop new products and upgrade its overall performance.
