Fawaz Alhokair net profit up 0.9%

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

News

Hokair announces a new Murabah Agreement with Alrajhi Bank

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

Fawaz Alhokair launches first Lefties store at Nakheel Mall

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

Al Hokair to develop mega Saudi airport district

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

Most Viewed Companies

Ticker Price Volume

Valuation

BAAZEEM Sector Market
P/E
Price/BookValue
Dividend Yield (%)

Momentum

Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg

Top Related Companies

Ticker Price Change
JARIR 13.95 0.02 (0.14%)
ALDREES 119.00 0.20 (0.16%)
EXTRA 80.40 0.20 (0.24%)
SASCO 52.55 0.10 (0.19%)
ALSAIFGALLERY 6.33 -0.03 (-0.48%)

Recent News

Air Arabia shareholders approve 30% dividend distribution

13/03/2026

Air Arabia shareholders have approved the distribution of 30 per cent cash dividend for the financial year ending December 31, 2025 at the company's Annual General Meeting (AGM). The dividend is equi

Khaleej Times

Alba AGM approves $202.6m dividend

13/03/2026

The Annual General Meeting (AGM) of Aluminium Bahrain (Alba), the world's largest aluminium smelter on one site, on Thursday approved the distribution of cash dividends to shareholders at Fils 54.06

Trade Arabia

Dana Gas board recommends cash dividend of $105m for 2025

13/03/2026

Dana Gas, one of the Middle East's largest regional private sector natural gas companies, has recommended a dividend payment of 5.5 fils ($1.5) per share for the full year 2025.

The propose

Trade Arabia

Talabat proposes share buyback programme on Dubai bourse

13/03/2026

Talabat Holding plc, a leading on-demand online ordering and delivery platform, on Thursday announced a share buyback programme of up to five per cent of the company's issued share capital, to be exe

Khaleej Times

Omantel Group's net profit surges 88% to RO371mn in 2025

12/03/2026

Oman Telecommunications Company (Omantel), the leading telecom services provider in Oman, has announced its financial and operating results for the year ended December 31, 2025, reporting solid growt

Muscat Daily

logo

Financial Information Co.

Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2025, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap