Sadafco Poised To Report Strong Financials

Leading Saudi Arabian food company Saudi Dairy and Foodstuff Company (Sadafco) has announced that it expects its net income to rise by around 200% through to June 30 2009 (the first quarter of its FY09/10). Similar to its main domestic dairy rival Almarai, Sadafco's forecasted performance suggests that it is relatively unaffected by the global meltdown's effect on the region, which is in line with our view. Despite an anticipated slowdown in Saudi Arabia's GDP growth to 0.52% in 2009, dairy companies should continue to perform robustly as evidenced by Almarai's strong Q109 showing (its net income pushed up by

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