Almarai, a Saudi Arabian dairy company which operates a joint venture with PepsiCo, has reported sales of SAR5,284.9m ($1,409m) for first half (H1) ended 30 June 2013, an increase of 15.8%, compared to sales of SAR4,564.5m ($1,217m) in the same period of the previous year.
For the second quarter (Q2) ended 30 June 2013, sales were SAR2,873.9m ($766.3m), an increase of 13.9%, as against the sales of SAR2,524.1m ($673m) in the same period in 2012.
Almarai's net profit for the H1 and Q2 also increased primarily due to continued growth in its core business of dairy, juice and bakery across all geographical regions as well as the first time consolidation of IDJ in the second quarter of 2012.
Total gross profit for H1 2013 was SAR1,862.3m ($496.5m), up 14.3%, compared to SAR1,629m ($434.3m) in the same period last year.
The company has posted a gross profit of SAR1,034.5m ($275m) in Q2 2013, up 12.2%, as against gross profit of SAR921.7m ($245.7m) for the comparable period last year.
It has also reported an operating profit of SAR484m ($129m) in Q2 2013, up 11.4%, compared to operating profit of $115.9m in the same period in 2012.
