Saudi Arabia's Almarai, the Gulf's largest dairy firm by market value, said its net profit rose by 13.5 percent in the fourth quarter on higher sales, but missed analysts' forecasts. Almarai made a net profit of SR248.8 million in the three months to Dec. 31, compared to SR219.2 million it made a year- earlier, the firm said in a statement posted on the bourse's website. Operational for the fourth quarter rose by 6.3 percent to SR281.4 million. The firm made SR1.1 billion in 2009, up 20.5 percent from the previous year. Its earnings per share stood at SR9.95 per share compared to SR8.35 a year earlier. Almarai's board proposed to issue a dividend of SR4 per share, the firm said in a bourse statement.
