Apr 20 2011 |
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Othaim Markets Company Announces the preliminary financial results for the period ending 03/31/2011
1. Net profit during the first quarter of 36.5 million riyals, compared to 31.7 million riyals for the same quarter the previous year, an increase of 15%. And compared to 53 million riyals for the previous quarter, a decrease of 31.1%.2. The gross profit during the first quarter of 72.8 million riyals, compared to 55.3 million riyals for the same quarter the previous year, an increase of 31.8%.
3. The operating profit during the first quarter of 33.2 million riyals, compared to 28.3 million riyals for the same quarter the previous year, an increase of 17.5%.
5. The main reason for the rise in net profit for the first quarter of 2011 compared with first quarter earnings for the year 2010 to sales growth by 19.8% due to the increased number of branches during the period as the number of branches by the end of the first quarter to 98 branch, as well as the natural growth of the branches of the list, as was to start the calculation of income of Dammam Mall from the beginning of the first quarter 2011.
- Ends -
© Press Release 2011
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