January 19, 2013 / 6:41 AM / 5 years ago

Saudi's Almarai Q4 net profit up 29pc, beating forecasts

JEDDAH, Saudi Arabia, Jan 19 (Reuters) - Saudi Arabian dairy and food producer Almarai Co posted a 29.2 percent rise in its fourth-quarter net profit, beating analyst forecasts, the firm said in a bourse statement on Saturday.

Almarai made a net profit of 369 million riyals ($98.4 million) in the three months ending Decmeber 31, compared with 285.5 million riyals in the same period a year earlier.

Six analysts polled by Reuters had forecast, on average, that the company would make 320 million riyals. (Reporting by Asma Alsharif)

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