Riyadh – Mubasher: Abdullah Al Othaim Markets’ on Thursday said its net profits increased by 43.11% year-on-year in the second quarter of 2017.
Net profits stood at SAR 71.21 million in Q2-17, compared to SAR 49.76 million in Q2-16, according to statements to the Saudi Stock Exchange (Tadawul).
Quarter-on-quarter, net profits rose 18.39%.
The Tadawul-listed firm attributed the growth in its year-on-year net profits to increasing sales by 9.56% and the increase in rent revenues due to adding new leasable spaces from real estate activities.
Sales levelled up to SAR 2.17 billion in Q2-17, from SAR 1.97 billion in the same period in the year before.
At the level of the first six months of 2017, net profits surged 36.29% to reach SAR 131.36 million, compared to SAR 96.38 million in H1-16.
Sales went up 12.8% reaching SAR 4.04 billion in H1-17, from SAR 3.58 billion in the corresponding period in the year earlier.
By 12:37 pm Saudi time, the stock increased 2.39% to SAR 120.
