Almarai Company Announces Its Consolidated Financial Results for The Year Ended on 31st December 2023(Twelve Months)

Almarai Company Announces Its Consolidated Financial Results for The Year Ended on 31st December 2023(Twelve Months)

Element List

Explanation

The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is

The increase of 2% in revenue as compared to the corresponding quarter of last year is due to: Positive performance in core GCC markets, led by Saudi Arabia, resulted in quarterly growth of 5%. The growth was driven mainly by positive contribution from the poultry and dairy categories. However, Almarai group revenue growth was reduced to 2% due to lower sales of commodities in North America and lower contribution from Egypt due to Egyptian Pound devaluation.

The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is

The increase of 4% in the Consolidated Profit Attributable to Shareholders of the Company as compared to the corresponding quarter of last year is due to: • Operating Profit (+5%): Operating profit increased by 5% due to revenue growth, accompanied by stabilized commodity costs and well managed operating costs. • Net Profit