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Fawaz Abdulaziz Alhokair’s profit falls 1.2% in Q3-17

Fawaz Abdulaziz Alhokair’s profit falls 1.2% in Q3-17
Net profits declined to SAR 48.7 million in Q3-17
CENOMI RETAIL
4240
3.92% 20.16 0.76

Riyadh – Mubasher: The Saudi Arabia-based Fawaz Abdulaziz Al Hokair Company on Sunday reported that its net profits went down 1.2% year-on-year in the third quarter of 2017 ended 31 December 2017.

Net profits declined to SAR 48.7 million in Q3-17, from SAR 49.3 million in the same period a year earlier, according to a statement to the Saudi Stock Exchange (Tadawul).

The Saudi Arabian fashion retailer ’s total sales dropped 5.6% to SAR 1.3 billion in Q3-17 compared to SAR 1.4 billion in the same period last year.

Gross profits increased by SAR 7.1 million in the third quarter against the same period in 2016.

The firm’s fiscal year ended 31 March 2018.

At the level of the first nine months of the fiscal year, the company’s profits sild 15.1% to SAR 287.9 million versus SAR 339.3 million at the same period in 2016.