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Saudi’s Almarai Says October Bakery Fire Will Not Impact Finances

Saudi’s Almarai Says October Bakery Fire Will Not Impact Finances

One of the plants at the facility had been destroyed, while another had its structure partially damaged.

Saudi Arabia’s Almarai, the Gulf’s largest dairy company, said on Sunday a recent fire at one of its bakeries should not have any “material adverse impact” on its financial position.

One of the plants at the facility had been destroyed, while another had its structure partially damaged and suffered significant smoke damage, the firm said in a bourse filing.

An exact determination of the value of the insurance claim would not be known until the end of December, but at the current stage, the company didn’t think the incident would damage its financials, it added.

Almarai reported the fire in October, saying then that it had caused “significant” damage at one of its bakeries in Jeddah.

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