Sales of listed retail firms up 11% to SR7.7bn in Q2

03/08/2014 07:55 AST

Sales of the listed retail companies grew by 11.46 percent to SR7.65 billion in the second quarter of the current year compared to SR6.86 billion in the same period last year, according to a financial report.

Capitals of the 14 listed firms stood at SR8.02 billion as their market capitalization reached SR 79 billion, or 3.76 percent of the value of all companies listed in the market, the report, compiled by Al-Hayat daily, said.

On the other hand, net profits of the retail sector rose by 13 percent to SR1.41 billion in H1 (2014) compared to SR1.26 billion in H1, 2013, the report said.

According to the available data, the retail sector’s performance varied based on their activities and volume of capitals. Profits of Jarir Marketing rose by 7.13 percent to SR135.2 million in Q2 compared to SR126.2 million in the same period last year. Meanwhile, its profits in H1 rose by 9.61 percent to SR336.6 million compared to SR307.1 million in H1, 2013, the report said. Profits of Abdullah Othaim Markets rose by 30.33 percent to SR51.78 million in Q2 compared to SR39.73 million in Q2, 2013 whereas its half year profits rose by 22 percent to SR 98.25 million compared to SR80.54 million in H1, 2013, the report said.

Profits of other companies in Q2 varied as follows: Fuwwaz Abdulaziz Al-Hukair & Co. realized net profits of SR191.2 million compared to SR165.2 million (+15.74 percent), Mouwasat Medical Services Company SR 59.4m compared to SR54.2 (+9.6 percent), the United Electronics Co. (Extra) SR53.8 million compared to SR 53.3 million (+0.94 percent), Saudi Marketing Company SR29.13 million compared to SR21.38 million (+36.23 percent), the National Medical Care Co. SR 31.1m compared to SR 22.2m (+40 percent), Al-Hammadi Development and Investment SR35.6 million compared to SR30.06 million (+18.43 percent), Dallah Health Holding Co. SR34.3 million compared to SR23.6 million (+45.34 percent), and Fitaihi Holding Group SR18.02 million compared to SR11.85 million (+52.02 percent), the report said.

Arab News