Fawaz Al-Hokair Group Company achieved net profits of SR447.2 million during the first nine months of 2013, or an increase of 19.81 percent over SR373.3 million profits realized during the same period last year, Saudi Press Agency said.
The company said in a statement that it had achieved net profits of SR282 million in Q3 of the current year compared to SR252.4 million for the same period of last year, a rise of 11.76 percent, or an increase of 70.75 percent over the profits of Q2, which stood at SR165.2 million.
Earnings per share (EPS) during the first nine months of 2013 rose to SR4.26 versus SR3.56, the report said.
The board of directors has meanwhile recommended the distribution of cash dividends, constituting 15 percent of the nominal value of the shares, the report said.
Fawaz Al-Hokair Group, one of the major groups of companies in Saudi Arabia, focuses on retail and real estate business sectors.
The group started in 1989 as a partnership between three brothers — Fawaz Abdulaziz Alhokair, Salman Abdulaziz Alhokair and Abdul Majeed Abdulaziz Alhokair — as a retail apparel store operator with two menswear stores.
Today, the group has diversified from fashion retail business into other sectors.
The diversification has further extended to cover non-retail business sectors such as real estate, construction, financial services, health care and hospitality.
Fawaz Al-Hokair Group increases 9-month net profits to SR447.2m
