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FINANCIAL NEWS
Saudi retail firms’ profits grow 11.2 percent in Q3
23 Dec 2014
(MENAFN) According to a financial report, net profit of the Saudi retail firms expanded by 11.2 percent to USD213.86 million in the July-September period, Arab News reported.
The figures were up from USD192.42 million registered in the same period a year ago. However, sales in the retail sector dipped by 1.05 percent to USD2.01 billion in the third-quarter period.
The sector comprises of 14 listed firms, with a market capitalization of USD19.76 billion, which means a 4.1 percent of the market value of the capital market. The capital stood at USD2.16 billion.
Fawwaz Al-Hokair & Co. recorded the largest sales in the sector during the cited period, with sales worth USD537.99 million and profits growth of 59 percent to USD80.96 million in the quarter.
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