Listed retail sector's Q1 profits up 6% to SR789.4m
RIYADH: Profits of the listed retail companies grew by 6.04 percent to SR789.4 million in the first quarter of the current year (2015) compared to SR744.4 million in the same period last year, according to a financial report. Similarly, sales of the retail sector grew by 17 percent to SR8.4 billion compared to SR7.2 billion in the comparable periods, the report, compiled by Al-Hayat daily, said. The retail sector is composed of 15 companies whose market capitalization stood at SR88.6 billion, or 4.12 percent of the Saudi equity market. Their capitals reached SR9.01 billion, the report said. Fuwwaz Abdulaziz Al-Hukair & Co. was the biggest in terms of capital among the retail sector at SR2.1 billion, followed by Al-Hamadi Development and Investments Co. at SR1.2 billion, Jarir Marketing at SR900 million, whereas the National Agriculture Marketing Co. (THIMAR) has the least capital of SR100 million, the report said. Jarir Marketing was the biggest in terms of profit growth where its profits grew by 23 percent to SR247 million in the first quarter compared to SR201.3 million in the same period last year. Its sales grew by 37 percent in Q1 to SR1.90 billion compared to SR1.39 billion in the first quarter of 2014, the report said. Profits of Abdullah Othaim Markets Co., meanwhile, reached SR49 million in the first quarter compared to SR46.5 million in Q1, 2014, or an increase of 5.21 percent. The company attributed the profit growth to the growth of sales of the existing and newly-opened branches by 15 percent. On the other hand, net profits of Mouwasat Medical Services Company dropped by 3.45 percent in Q1 to SR56 million compared to SR58 million in Q1, 2014. Profits of other companies in Q1 2015 varied compared to Q1, 2014, as follows: United Electronics Co.(Extra) SR16.07 million compared to SR 29.25 million (-45 percent), Fuwwaz Abdulaziz Al-Hukair & Co. SR201.74 million compared to SR190.78 million (+6 percent), Dallah Health Holding Co. SR47.8 million compared to SR40.5 million (+18.02 percent), Khaleej Training and Education SR15.64 million compared to SR15.60 million (+0.21 percent), the National Medical Care Co. SR27.72 million compared to SR32.4 million (-14.4 percent), and Saudi Automotive Services Co. (SASCO) SR 3.23 million compared to SR7.79 million (- 58.54 percent), the report said.
