Fawaz A Alhokair & Co announces strong interim financial results
Saudi Arabia-based Fawaz A Alhokair & Co (Alhokair Fashion Retail) has announces a strong set of interim financial results, with gross profit at approximately $142 million, 19.9% higher than the corresponding period last year.
Net and operational profits are also higher compared to last year, rising by 10.5% and 10.9%, respectively. This strong start to the year and sustained success reflects the achievement of Alhokair Fashion Retail’s ambitious expansion plans. Alhokair Fashion Retail continues to pursue growth through expansion of mono-brand franchise stores and the acquisition of brands set for global growth.
“The first three months of this financial year have been exceptional for us. Our strategic global expansion programme, which sees us expanding both partner brands alongside our private label formats offers us the opportunity to grow farther, faster,” says Simon Marshall, CEO, Alhokair Fashion Retail.
