Earnings Report /
Saudi Arabia

Almarai: Stronger than expected margins raise profits

  • Revenues increased 15.1% yoy (+2.4% qoq) to SAR4.61bn, broadly in-line with our estimates of SAR4.70bn

  • Gross margins contracted by 2.0% yoy to 31.9% in Q2 22 vs 33.8% in Q2 21, but were higher than our estimates of 29.0%

  • Net operating expenses came in at SAR823mn, higher than our estimates of SAR793mn

SNB Capital
17 July 2022
Published bySNB Capital


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