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FINANCIAL NEWS
Saudi Alhokair profit up 40 percent in Q1
22 Apr 2014
(MENAFN) Fawaz Abdulaziz Alhokair Co, the Saudi Arabian retailer which franchises brands such as Zara and Marks and Spencer in the kingdom, saw a significant rise in net profit in the first quarter of the current year, according to Arabian Business.
The company posted a 40 percent growth in its profit, reaching USD50.9 million in the three-month period.
Alhokair’s sales boosted by 10 percent in the first quarter to reach USD362 million.
Net profit for the company’s fiscal year, ended March 31, grew by 24 percent to reach USD205.55 million, while sales boosted by 18 percent to USD1.460 billion.
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