Almarai expects positive momentum in revenue growth to continue

Almarai headquarters

Almarai Co. noticed positive growth in revenues from all products and geographical areas in the local currency during the first quarter of 2023, the dairy producer said in a statement to Tadawul. 

It expects this positive momentum to continue, driven by the expansion of the poultry segment and stable macroeconomic development. 

Almarai added that the main risks related to inflation in dairy and feed commodities continued to show signs of stability over the past two quarters.

The company will continue to manage these risks through better hedging activities, and optimizing stock utilization, the statement noted.

Almarai reported a profit leap of 51% year-on-year (YoY) to SAR 635 million for the first quarter of 2023, from SAR 420.5 million, according to data compiled by Argaam.