Almarai posts rise in Q4 profit

The largest dairy company in the Gulf by market value, Saudi Arabian Almarai Co has said that its Q4 net profit rose 13.5% on higher sales, Reuters has reported. Almarai made a net profit of SR249m ($66.35m) in the three months to end-December. "These results are due to the increase of sales and the firm's market share in all sectors, as well as the diversification of its markets and sources of revenue," it said. Almarai said it made a SR1.1bn net profit in 2009, up 20.5%.