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FINANCIAL NEWS
Saudi Alhokair profit up 15.7 percent in Q2
22 Jul 2014
(MENAFN) Saudi Arabian retailer Fawaz Abdulaziz Alhokair Co. reported an increase in its net profit by 15.7 percent in the second quarter of the current year, according to Arab News.
Net profit in the quarter was estimated at USD51.0 million, compared to USD44.040 million during the same period a year earlier.
The company said that the growth resulted from “opening new stores, adding new brands and an increase in sales in the international markets.”
Six analysts polled by Reuters had forecast, on average, that Alhokair would record a net profit of USD55.51 million in the quarter.
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