Net profits of the listed retail firms grew by 13 percent to SR704 million in the first quarter of the current year compared to SR624 million in the same period last year, local media said.
However, sales of the retail sector dropped by 1.3 percent to SR6.52 billion in Q1 compared to SR6.61 billion in the same period last year, Al-Hayat daily said.
The sector comprises 12 listed companies whose market capitalization is worth SR68.4 billion, or 3.4 percent of the market value of the capital market. Their capitals stood at SR6.22 billion, the report said.
Jarir Marketing achieved profits worth SR201.3 million in Q1 compared to SR180.8 million in the same period last year, or an increase of 11.34 percent. Its sales rose by 5.2 percent to SR1.4 billion compared to SR 1.33 billion in the comparable periods, the report said.
Likewise, net profits of Al-Othaim Markets grew by 14 percent to SR46.47 million against SR40.81. Its sales rose to SR 1.22 billion in Q1 compared to SR 1.16 billion in the equivalent quarter last year, according to the report.
Mouwasat Medical Services has its profits raised by 10.3 percent to SR57.9 million in Q1 compared to SR 52.5 million in Q1, 2013.
Profits of other companies in Q1 were as follows: The United Electronics Company (eXtra) SR29.25 million compared to SR26.2 million (+11.64 percent), Al-Khaleej Training and Education SR15.6 million compared to SR10.44 (+49.48 percent), Dallah Health SR40.50 million compared to SR39 million (+ 3.85 percent), the National Medical Care Company SR32.4 million compared to SR31.1 million (+ 4.2 percent), Saudi Marketing Company (Al-Mazraa) SR27.63 million compared to SR24.79 million (+ 11.44 percent), the National Agro Marketing Company (Thimar) SR6 million compared to SR2.56 million (+ 134.3 percent), and Al-Huakair Company SR771.35 million compared to SR619.7 million (+ 24.47 percent), the report said.
Profits of listed retail firms up 13% to SR704m in Q1
