Abdullah Al-Othaim moves up to rank 65th on Forbes Middle East Top 100 list
The company also progressed among other Saudi companies, moving to the 24th place from last year’s 31st
Birds eye view of the skyline of Riyadh, Saudi Arabia.
By Staff Writer, Arab News
Saudi Arabia - Abdullah Al-Othaim Markets Company has advanced 29 places in Forbes Middle East’s annual ranking of the top 100 largest companies in the region in 2021. The company ranked 65th among major industrial, financial and economic companies in the Middle East, strengthening its position from last year’s 94th rank.
The company also progressed among other Saudi companies, moving to the 24th place from last year’s 31st. Forbes also raised its estimate of the company’s market value to $3.2 billion for 2021 after it was estimated at $2.2 billion last year.
Board member and CEO of Abdullah Al-Othaim Markets Company Abdul Aziz Abdullah Al-Othaim said: “We’re proud of the continuous selection of the company among the 100 largest companies in the Middle East by Forbes. In light of the excellent customer services offered to customers, we are very optimistic about the promising future of the company and its sustainable growth and success.”
He added: “We managed to achieve high sales rates and excellent market share growth in the previous three years by adopting an aggressive growth strategy, with an increasing number of branches numbering at 257 across the Kingdom, which reflects the company’s eagerness to serve all segments of society and contribute to the economic growth of the Kingdom in line with Vision 2030, under the guidance of my Lord, King Salman and Crown Prince Muhammad bin Salman, may God bless them.”
Al-Othaim believes teamwork is the key to the success of his company. He expressed his gratitude to the company’s employees for their pivotal role in the success achieved over the recent years, and hoped the collaborative efforts continue in the coming period.
The monthly global magazine, Forbes, provides specialized financial and economic reports with close monitoring and analysis of financial statistics, growth, revenues and assets of large companies around the globe. It is published in seven different languages, including an Arabic version issued for the Middle East region.
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