Almarai Co. — Earnings Release 2006

Jul 10, 2006

Almarai announces a record first half profit of SR 212.4 million and an increase in sales by 33% compared with the same period in the prior year.

2280 · 10/07/2006 13:03:46 · Announcement #9164 · View on Saudi Exchange

Almarai announces a record first half profit of SR 212.4 million and an increase in sales by 33% compared with the same period in the prior year.

Almarai Company (Almarai) today announced its results for the first half of 2006.

The net profit for the first half increased by 19.1% to SAR 212.4 million compared to the same period in the prior year. The net profit for second quarter increased by 21.4 %to SAR 121.8 million compared to the same period last year.

Commenting on these results, His Highness Prince Sultan Bin Mohammed Bin Saud Al Kabeer stated:?The record results for the first half reflect Almarai?s significant growth in sales revenue year on year, as well as the efficient management of its resources, marketing strategy and better utilization of the company assets.

In the first half sales increased by 33% to SAR 1,322 million compared to the same period in the prior year. Gross profit for the period increased by 26.4% to SAR 499.3 million compared to the same period in the prior year.

Net assets increased by 34.4% to SAR 1,641 million reflecting the recent investment made by the company in the significant expansion of its production and distribution facilities and in particular the commissioning of the Company?s new processing plant.

I would like to thank the Board as well as the management and employees of the company for their hard work and support in ensuring the continuing success of Almarai. Based on the results for the first half and the expectation of current market conditions continuing I look forward to a very strong 2006 for Almarai?

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