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Dubai: One of Saudi Arabia’s biggest food businesses, First Mills recorded SR220.2 million in 2023 net profit, up 1.3 per cent, and helped by churning out SR964.3 million in sales (against SR913.6 million in 2022). The net profit margin came to a healthy 22.8 per cent, though down on 2022’s 23.8 per cent. The revenues gains were heled by the
First Milling Company, a market-leading Saudi milling firm, has seen its FY 2023 net profit rise 1.25% to SR220.2 million and register net profit margin of 22.8% in FY 2023 and 23.3% in Q4 2023, driven by strong growth in flour sales.
Saudia Arabian company sees net profit grow 1.2%
Growth in flour segment helped revenue grow
First Milling Company, a market-leading Saudi milling company, has announced its financial performance for the first nine months (9M) and third quarter (Q3) of 2023.