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Research firm keeps Neutral on Almarai with 48 Riyal target
Al Rajhi Financial announced that Almarai recorded profits in line with its expectations during the third quarter of 2026, with the "Neutral" recommendation remaining unchanged and a target price of 48 Saudi riyals over the next 12 months. The company achieved revenues of 6.2 billion riyals, marking an 11% annual increase, supported by sales in the poultry, beverage, and expansion projects sectors, despite a contraction in gross margin to 29.7% due to rising shipping costs. Almarai posted a net profit of 618 million riyals, a 3% decrease compared to the previous quarter, with ongoing expectations of continued pressure on profit margins in the future. The value of expansion efforts and steady growth continue to sustain cautious expectations around achieving higher profits amid rising costs.
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