Saudi dairy producer Almarai says Q1 net profit grew 5pc in year

RIYADH, April 6 Sat Apr 6, 2013 2:25am EDT

RIYADH, April 6 (Reuters) - Saudi Arabian dairy producer Almarai Co said its first quarter net profit was 255 million riyals ($68 million), a 5.4 percent rise over the same quarter of 2012 but a 30.9 percent drop from the previous quarter.

The company said in a bourse statement on Saturday it attributed its year-on-year profit growth to increased revenue in all its products, particularly in poultry sales. The fall in income from the last quarter was a result of seasonal consumption habits, it said.

(Reporting by Angus McDowall; Editing by Alison Williams)

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