Saudi's Food Products Gains Most in More Than Six Weeks on Profit
By -
Jul 11, 2010
Food Products Co. advanced the most in more than six weeks after the Saudi Arabian company that produces and packages foods said second-quarter profit increased almost seven-fold.
The shares surged 7.8 percent, the most since May 29, to 17.20 riyals at 11:44 a.m. in Riyadh.
Net income rose to 12 million riyals ($3.2 million) from 1.8 million riyals the year earlier, according to a company statement on the Saudi bourse.
To contact the reporter on this story: Zahra Hankir in Dubai at zhankir@bloomberg.net