Net profits of the listed retail firms grew by 11.2 percent to SR 803 million in the third quarter of the current year compared to SR722.5 million in the same period last year, according to a financial report.

However, sales of the retail sector marginally dropped by 1.05 percent to SR7.57 billion in Q3 compared to SR7.65 billion in the same period last year , the report, filed by Al-Hayat daily, said.

The sector comprises 14 listed companies whose market capitalization is worth SR74.2 billion, or 4.1 percent of the market value of the capital market. Their capitals stood at SR8.12 billion, the report said.

Fawwaz Abdulaziz Al-Hokair & Co. registered the highest sales of the retail sector in Q3 at SR 2.02 billion compared to SR 1.66 billion in Q2, 2014. Accordingly, its profits grew by 59 percent to SR 304 million in Q3 compared to SR 191.2 million in the same period last year, the report said.

Likewise, sales of Jarir Marketing increased by 11 percent to SR 1.43 billion in Q3 compared to SR1.29 billion. Meanwhile, its profits grew by 50.2 percent to SR 203 million compared to SR 135.2 million, the report said.

On the other hand, sales of Al-Othaim Markets dropped by 20 percent to SR 1.21 billion in Q3, 2014, compared to SR 1.51 in Q3, 2013.

Similarly, its profits went down by 18.3 percent to SR 42.29 million compared to SR 51.78 million in the comparable periods, the report said.

Sales of the United Electronics Company (eXtra) also dropped to SR 809 million in Q3 compared to SR984 million in the same period last year, which caused its profits down 44.8 percent to SR29.7 million compared to SR53.8 million, the report said.