Riyadh – Mubasher: Fawaz Abdulaziz Al Hokair Co reported a 4.1% rise year-on-year in its profits during the first quarter ended 30 June 2017.
Net profits reached SAR 232.4 million in Q1-17, compared to SAR 223.2 million in Q1-16, according to a bourse filing.
The Q1-17 results were backed by the disposal of Blanco which led the company to incur SAR 47 million in losses last year, in addition to an increase of 0.5% in gross profits due to a better discount policy, as well as a better sales mix.
In the fourth quarter ended 31 March, net profits reached SAR 79.35 million compared to SAR 3.17 million.
