Riyadh – Mubasher: Fawaz Abdulaziz Alhokair Co reported a 39.87% year-on-year increase in its profits for the fiscal year ended 31 March.
Net profits amounted to SAR 144.75 million for the 12-month period ended 31 March, compared to SAR 103.49 million in the year-ago period, the company said in a statement to the Saudi Stock Exchange (Tadawul) on Sunday.
The apparel retail company ascribed its profit growth to lower direct cost of sales, reduced selling and marketing expenses as well as decreased general and administrative expenses, along with higher other operations income.
From October to December, Alhokair’s net profits after zakat and taxes retreated by 45.47% year-on-year to SAR 26.5 million from SAR 48.6 million.
