Sales of listed retail firms rise 17% to SR22 billion

09/02/2014 07:27 AST

Sales of the listed retail firms rose by 17.48 percent to reach SR21.87 billion by the end of 2013 compared to figures of the last year (2012), local media said.

Net profits of the 12-listed companies, meanwhile, jumped by 13 percent to hit SR2.96 billion by the end of the year.

Market capitalization of the retail firms stood at SR54 billion, or 3 percent of the Saudi stock market, as their capitals reached SR5.6 billion, according to the media report.

Jarir Marketing topped the list of retail firms in terms of the sales growth by registering 13 percent to SR5.24 billion in 2013 compared to figures of last year. Likewise, its net profits grew by 14.65 percent to SR653.3 million compared to SR569.8 million.

Sales of Fawaz Abdulaziz Alhokair & Co. registered the second biggest sales growth to reach SR4.65 billion in the last nine months (2013) compared to SR3.2 billion in the same period last year, or an increase of 45.4 percent.

Its profits soared by 20 percent to SR580.5 million compared to SR483.82 million, according to media reports.

The United Electronics Co. (Extra) registered the third biggest sales at SR3.39 billion in 2013 compared to SR3.02 billion in 2012.

Its profits grew by 5.49 percent to SR167.3 million compared to SR158.6 million.

Sales and profit growth was attributed to the growing number of showrooms which increased to 37 in 2013.

On the other hand, sales of Abdullah Othaim Markets grew by 8.62 percent to reach SR4.62 billion compared to SR4.27 billion while its profits reached SR192.51 million compared to SR171.77 million in 2012, or an increase of 12.07 percent.

In 2013, Al-Mouwasat Medical Services Co. registered sales worth SR902.2 million compared to SR707 million in 2012, or increase of 13.3 percent.

The company realized SR201.2million in profits compared to SR171.6 million in the previous year (+17.25 percent).

Sales of Dallah Medical Services Co. rose to SR749.6 million compared to SR637 million in 2012, or an increase of 18 percent and, likewise, its profits grew by 2 percent to SR136 million compared to SR133.4 million.

Unlike the previous firms, sales of Fitaihi Holding Group dropped by 1.60 percent to SR250 million compared to SR254 million in the previous year.

Its profits, however, rose by 4.79 percent to SR35.72 million.

In the meantime, sales of Al-Khaleej Training and Education grew by 16 percent to SR665 million compared to SR574 million whereas its profits climbed by 17 percent to SR78.7 million in 2013 compared to SR67.4 million in 2012.

The National Medical Care Co. has its sales risen by 12 percent to SR586.3 million but, however, its profits fell by 11.9 percent to SR92.5 million.

Sales of the Saudi Automotive Services Co. (SASCO) rose by 7.14 percent to SR369.6 million in 2013 compared to SR345 million while its profits grew by 8.26 percent to SR42 million, according to media reports.

Arab News