Saudi Arabian dairy processor Almarai has reported operating profits of €131m for the three months to September 30, a 12.9% increase on the same period last year. Revenue increased by 11.7% to €686m while EBITDA rose by 7.1% to €178m. Net debt amounted €1.8bn compared to €1.65bn as at end of September 2013, an increase of 11.5%.

Almarai, which was founded in 1977, produces 1 billion litres of fresh milk every year from 75,000 dairy cows in the Saudi Arabian desert.