Saudi's Almarai Q4 profit down 4.3 pct, competition pressures prices

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

News

Almarai Board recommends 7.5% cash dividends for year 2017

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

Almarai reports gross profit of $404m for Q3

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

Almarai Q3 profit flat, warns of adverse market conditions

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

Most Viewed Companies

Ticker Price Volume
SABIC 114.77 5,915,941

Valuation

ALMARAI Sector Market
P/E
Price/BookValue
Dividend Yield (%)

Momentum

Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg

Top Related Companies

Ticker Price Change
SAVOLA 43.99 0.97 (2.25%)
SADAFCO 115.12 0.47 (0.40%)
NADEC 38.49 -0.43 (-1.11%)
HB 59.94 -0.05 (-0.09%)
JADCO 29.86 0.20 (0.67%)

Recent News

SABIC-MCC joint venture starts output

05/04/2018

SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.

Saudi Gazette

S&P affirms QIB rating at A-

05/04/2018

Standard & Poor’s (S&P) has affirmed QIB’s Issuer Credit Rating at A-, Qatar’s leading Islamic bank has said in a release. According to S&P, the major contributing factors strengthening QIB’s rating

Gulf Times

Qatar National Bank seeks growth in Southeast Asia

05/04/2018

Qatar National Bank (QNB) aims to increase its profit by 5-8 percent this year and loans and investments by 10-12 percent, helped by expansion into faster-growing Southeast Asia markets, its CEO told

The Peninsula

Doha Bank’s third Indian branch opens today

04/04/2018

Doha Bank has announced the official inauguration of its Chennai Branch, in the southern Indian state, will be held today. This is Doha Bank’s third city in India after its successful establishment o

The Peninsula

SHUAA to act as liquidity provider to Bank of Sharjah

04/04/2018

Bank of Sharjah said it has engaged SHUAA Capital International as liquidity providers for its shares and will commence the activity from April 4. SHUAA Capital International shall not hold more than

Gulf News

logo

Financial Information Co.

P.O. Box 69410, Riyadh 11547, Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2024, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap