By: Mohamed Idris
Riyadh – Mubasher: Al Marai posted SAR 654.6 million ($174.56 million) net profits in Q3 compared to SAR 595.1 million for the year-ago period.
The company recorded the highest quarterly results since 2008. Its profits equaled 98% of 2007's profits, 141% of 2006 and 170% of 2005, according to Mubasher statistics.
Al Marai's results beat eight research firms with an average estimated profit of SAR 633.89 million, while the actual figures increased 3.27%.
The research firms' estimates swung between SAR 673.7 million of Al Istithmar Capital and SAR 578 million of Al Rajhi Capital.
Al Jazira Capital's estimates were the closest, where it expected profits of SAR 655.60 million and the actual profits were SAR 654.60 million.
Translated by: Sara Ghali
