The net profit of Fawaz Abdulaziz Alhokair & Co. for the fiscal year ended March 31, 2013 is SR 619.69 million, an increase of 38.5 percent compared to SR 447.38 million during the same period last year.
The earning per share (EPS) for the year ended March 31, 2013 is SR 8.85 compared to the same period last year (SR 6.39).
The gross profit for the year ended March 31, 2013 is SR 1,130.37 million, an increase of 43 percent compared to the same period last year SR 789.98 million, according to the Tadawul website
The operating profit for the year ended March 31, 2013 amounted to SR 583.93 million, an increase of 32.9 percent compared to the same period last year SR 439.28 million.
The increase in net profit for the year ended March 31, 2013 compared with the same period last year is due to the increase of sales for the same stores and the successful opening of new stores, introducing new concepts and brands, the consolidation of the results of the acquired business Nesk trading projects LLC, and the international expansion and increase in other incomes mainly related to international company capital and foreign exchange gains.
Starting with the second quarter this year, the company has applied the direct cost method by calculating the gross profit after deducting all stores’ direct cost.
The new presentation supports the company directions of controlling total cost at the store level and relate the same to sales to implement the direct cost of certain items of income statement that has been reclassified.
Alhokair’s net profit up 38.5% to SR 619.69 m
