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Almarai reports 8.8% rise in Q2 earnings

The GCC’s largest dairy company, Almarai has posted an 8.8% rise in second-quarter net profit, as sales rose, Reuters has reported. Saudi-headquartered Almarai made a profit of SR433.3m ($115.5m) in the three months to June 30, up from SR398.2m in the year-earlier period. Second-quarter sales rose 14.4% to SR3.29bn, on the back of higher sales in core parts of the business, Almarai said.