JEDDAH: Saudi Arabian retailer Fawaz Abdulaziz Alhokair Co. said its third-quarter net profit rose 20.7 percent on the back of higher like-for-like sales and revenue from new store openings.

The firm posted a net profit for the three months to Dec. 31 of SR133.3 million, versus SR110.5 million for the corresponding period of the previous financial year, it said in a bourse filing. Alhokair’s financial year runs from April 1. Alhokair’s profit for the first nine months of its financial year rose 20 percent to SR580.6 million.