Almarai Company (Almarai) today announced its interim consolidated financial results for the period ended 31 March 2011.
1)For the first quarter ended 31 March 2011 Almarai generated a consolidated net profit amounting to SAR 235.2 million, an increase of 0.5% compared to the same period last year (SAR 234.1 million) and a decrease of 17.1% compared to the fourth quarter 2010 (SAR 283.8 million).
2)Gross profit for the first quarter ended 31 March 2011 amounted to SAR 634.2 million, an increase of 11.2% compared to the same period last year (SAR 570.0 million).
3)Operating profit for the first quarter ended 31 March 2011 amounted to SAR 291.5 million, an increase of 4.8% compared to the same period last year (SAR 278.2 million).
4)Earnings per share (EPS) for the first quarter ended 31 March 2011 was SAR 1.02 the same EPS as that which was achieved during the same period last year (SAR 1.02) (based on 230 million shares).
5)Sales for the first quarter ended 31 March 2011 amounted to SAR 1,743.6 million, an increase of 11.8% compared to the same period last year (SAR 1,559.5 million).
6)Performance and results of the first quarter have been influenced by the following factors:
Increase in the price of packaging materials
Increase in the price of dairy commodities
Increase in feed costs
Increase in the price of juice concentrate.
Almarai is satisfied with the overall performance in the first quarter as sales have increased and we have been able to maintain/increase our market shares. However, the increase in input costs has resulted in a deterioration in margins as selling prices of fresh products remained unchanged.
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