jeddah: Saudi Arabian retailer Fawaz Abdulaziz Alhokair Co. reported a 15.7 percent increase in second-quarter net profit on Monday, but missed analysts' estimates.

Net profit in the three months to June 30 was SR191.2 million ($51.0 million), compared to SR165.2 million in the same period a year earlier, it said in a bourse statement.

It attributed the rise to "opening new stores, adding new brands and an increase in sales in the international markets."

Six analysts polled by Reuters had forecast, on average, that Alhokair would record a net profit of SR208.23 million in the quarter.