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- Investcorp Capital looks to maintain competitive level of dividends
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28/07/2016 05:16 AST
Saudi Arabian retailer Fawaz Abdulaziz Alhokair Co. reported a 0.9 percent rise in first-quarter net profit on Wednesday as sales increased at its outlets in the Kingdom.
The company made a net profit of SR212.6 million ($56.7 million) in the three months to June 30, up from SR210.8 million in the year-earlier period, according to a bourse filing. Alhokair's financial year starts on April 1.
EFG Hermes forecast the company would make a quarterly profit of SR170.1 million during the quarter, while NCB Capital estimated a profit of SR190.0 million.
Alhokair, which owns franchise rights for brands including Mango, Zara and Banana Republic in the Middle East, said its quarterly profit rise was due to increasing sales in Saudi Arabia due to more stores and also the boost from the holy month of Ramadan.
These factors helped offset the negative impact from an increased inventory provision, which lifted the cost of sales, as well as a SR27 million charge following the sale of Spanish brand Blanco in the quarter.
Quarterly sales rose 17.1 percent year on year to SR2.2 billion.
Retail names in Saudi Arabia have struggled in the first half of 2016 as a protracted slump in oil prices put government and consumer spending under pressure, while a two-month salary bump to government employees which boosted retail sales in early 2015 wasn't repeated.
Arab News
23/08/2017
In an effort of rebalancing its debt exposure especially the Short Term portion, Fawaz Abdulaziz Al Hokair & Co. signed a new Murabaha Agreement with Alrajhi Bank under the following terms:
Tadawul
17/04/2017
ALHOKAIR Fashion Retail launched the first Lefties flagship store, the famous accessible price international fashion brand, in KSA at Nakheel Mall Riyadh. This exhibition is the first Lefties store i
Saudi Gazette
21/09/2016
Fawaz Abdulaziz Al Hokair Company, a leading Saudi-based group with a focus on retail and real estate business sectors, has won a major contract to develop a commercial and entertainment district adj
Trade Arabia
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| JARIR | 13.24 | 0.06 (0.45 |
| ALDREES | 117.50 | -0.20 (-0.17 |
| EXTRA | 85.10 | -0.20 (-0.24 |
| SASCO | 54.80 | 0.70 (1.29 |
| CENOMIRETAIL | 26.90 | -1.80 (-6.28 |
24/09/2025
The Board of Directors of Investcorp Capital (ICAP), an investor in alternative investment opportunities within private markets, convened last week in Abu Dhabi under the leadership of Mohammed Alard
Trade Arabia
24/09/2025
Adnoc Distribution has announced that its Board of Directors has approved an interim dividend of $350 million (AED1.285 billion) for the first half of 2025, equivalent to 10.285 fils per share.
Trade Arabia
24/09/2025
Saudia Dairy and Foodstuff Company (Sadafco), a leading producer of high-quality dairy and food products in the Kingdom, has signed a strategic agreement with Tetra Pak to install the cutting-edge Te
Trade Arabia
24/09/2025
National Bank of Kuwait (NBK) has received the Silver Excellence in Diversity and Inclusion Award from the prestigious Society for Human Resource Management (SHRM) for its NBK RISE Program, during ME
Kuwait Times
24/09/2025
In a new step to help advance Kuwait's digital transformation and empower Kuwaiti talents, Burgan Bank launched a specialized training program to support Kuwait's Ministry of Interior (MoI) in meetin
Kuwait Times
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