FINANCIAL NEWS

Saudi retail firms’ profits grow 10 percent in 2014

14 Feb 2015

(MENAFN) According to a financial report, net profits of the listed retail firms grew by 10 percent to USD719.3 million by the end of 2014 compared to USD666 million in 2013, Arab News reported.

The profit growth was mainly driven by the increased profits of five companies, mainly Jarir Marketing, Saudi Automotive Services Co. (SASCO), Mouwasat Medical Services Co. (Mouwasat) and Al-Othaim Markets.

Jarir Marketing topped the retail sector companies to have registered highest profits by the end of 2014 at USD197.25 million compared to USD174.1 million in 2013.

SASCO and Mouwasat were the second and third largest profit contributors to the retail sector profits growth at 16.8 percent (USD11 million) and 15.7 percent (USD10.36 million), respectively.

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