Almarai Company posted a consolidated net profit amounting to SR349.3 million in the second quarter ended June 30, 2011, an increase of 1.8 percent compared to the same period last year (SR343.1 million) and an increase of 48.5 percent compared to the first quarter 2011 (SR235.2 million), the dairy company said on Tadawul website Saturday. The total gross profit for the period amounted to SR767.2 million, an increase of 9.4 percent compared to the same period last year (SR701.1 million). The operating profit amounted to SR405.8 million, an increase of 4.7 percent compared to the same period last year (SR387.7 million). The consolidated net profit for the first six months ended June 30, amounted to SR584.5 million, an increase of 1.3 percent compared to the same period last year (SR577.2 million). Earnings per share (EPS) for the six months was SR2.54 compared to SR2.51 for the prior year. The total gross profit for the first six months amounted to SR1,401.4 million, an increase of 10.2 percent compared to the same period last year (SR1,271.2 million). The operating profit amounted to SR697.2 million, an increase of 4.7 percent compared to the same period last year (SR665.8 million). Turnover for the second quarter amounted to SR2,012.9 million, an increase of 15.8 percent compared to the same period last year (SR1,738.9 million). Turnover for the first six months amounted to SR3,756.4 million, an increase of 13.9 percent compared to the same period last year (SR3,298.4 million). Considering the impact of these cAlmarai is committed to ensuring the highest level of quality in all its products and to providing the highest level of service to all consumers, it added. Abdulrahman Al Fadley, CEO of Almarai, said earlier that his company's decision to boost investments in the poultry sector to SR4,000 million was due to the Saudi market's increasing demand.
