Almarai - Joint Stock Co. said its normalized net income for the second quarter came to 45 halalas per share, compared with the S&P Capital IQ consensus estimate of 51 halalas per share.
EPS increased 56.4% year over year from 29 halalas.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 446.3 million riyals, a gain of 56.4% from 285.4 million riyals in the year-earlier period.
The normalized profit margin increased to 12.2% from 8.7% in the year-earlier period.
Total revenue climbed 11.0% year over year to 3.65 billion riyals from 3.29 billion riyals, and total operating expenses rose 8.7% on an annual basis to 3.01 billion riyals from 2.77 billion riyals.
Reported net income rose 22.9% on an annual basis to 516.0 million riyals, or 52 halalas per share, from 420.0 million riyals, or 42 halalas per share.
As of July 3, US$1 was equivalent to 3.75 Saudi Arabian riyals.
