Sales of listed retail firms in the Kingdom witness over 17% rise

RetailME Bureau

Sales of the listed retail firms rose by 17.48% to reach SAR21.87 billion by 2013-end, compared to the figures of 2012. Net profits of the 12-listed companies went up by 13%, touching SAR2.96 billion by end of 2013. Market capitalisation of the retail firms stood at SAR54 billion as their capitals reached SAR5.6 billion.

Jarir Marketing topped the list of retail firms in terms of sales growth by registering 13% rise to SAR5.24 billion last year, compared to figures from 2012. Likewise, its net profits grew by 14.65% to SAR653.3 million, compared to SAR569.8 million. Sales of Fawaz Abdulaziz Alhokair & Co. registered the second biggest sales growth to reach SAR4.65 billion in the last nine months of 2013, compared to SAR3.2 billion in the same period in 2012, registering an increase of 45.4%. Its profits soared by 20% to SAR580.5 million, compared to SAR483.82 million. The United Electronics Co. (Extra) registered the third biggest sales at SAR3.39 billion in 2013, compared to SAR3.02 billion in 2012. Its profits grew by 5.49% to SAR167.3 million compared to SAR158.6 million. Sales and profit growth was attributed to the increasing number of showrooms touching the 37-mark in 2013.

Sales of Abdullah Othaim Markets also grew by 8.62% to reach SAR4.62 billion, compared to SAR4.27 billion, while its profits reached SAR192.51 million compared to SAR171.77 million in 2012, posting an increase of 12.07%. On the other hand, sales of Fitaihi Holding Group dropped by 1.60% to SAR250 last year million compared to SAR254 million in 2012. Its profits, however, rose by 4.79% to SAR35.72 million.