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 14.12 -0.06 (-0.43%)
ALDREES 132.00 -1.40 (-1.05%)
EXTRA 81.70 0.00 (0.00%)
SASCO 54.20 -2.10 (-3.74%)
ALSAIFGALLERY 6.78 0.00 (0.00%)

Recent News

Doha Bank shareholders approve distribution of 15% cash dividends

05/04/2026

Shareholders of Doha Bank have approved the board of directors' recommendation to distribute cash dividends of QR0.15 per share, equivalent to 15% of the nominal value, Doha Bank chairman Sheikh Faha

Gulf Times

Alramz in deal to build 900-unit integrated community in Jeddah

05/04/2026

Saudi-based Al Ramz Real Estate Company has announced the signing of an agreement for the establishment of a shariah-compliant real estate investment fund, to be managed by Oud Capital (the Fund Mana

Trade Arabia

Jazeera Airways launches three new flights to Indian sub-continent

05/04/2026

Kuwait's leading low-cost carrier Jazeera Airways has announced the launch of flights to three new destinations in the Indian sub-continent - Peshawar and Sialkot in Pakistan, and the South Indian ci

Trade Arabia

NBK - Egypt secures $50 million facility to finance MSMEs in Egypt

03/04/2026

National Bank of Kuwait - Egypt has secured a $50 million financing package from the European Bank for Reconstruction and Development (EBRD), supported by the European Union (EU), to expand access to

Kuwait Times

ADIB strengthens tie-up with Jubail Investment Company to deliver major project

03/04/2026

Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, has reaffirmed its role as a key enabler of large-scale real estate development through its strategic partnership with Jubail I

Trade Arabia

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