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FINANCIAL NEWS
Saudi retail listed firms’ profit up 13 percent in Q1
21 May 2014
(MENAFN) Listed retail firms of Saudi Arabia posted a 13 percent growth in net profit to USD187.67 million in the first three months of the current year, compared to USD166.34 million in the same quarter last year, according to Arab News.
Sales of the retail sector fell by 1.3 percent during the quarter to reach USD1.738 billion, down from USD1.762 billion in the same quarter 2013.
The sector comprises 12 listed companies whose market capitalization is worth USD18.23 billion, or 3.4 percent of the market value of the capital market.
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