Solid growth but lower margins
Al Othaim group posted a 14.9% increase in its FY2015 consolidated sales to SAR6.036bn (+18.7% to SAR1.553bn in Q4 2015 revenues). In 2015, the company opened 13 new outlets taking the total number of outlets to 142 vs. 129 in 2014.The retailer’s gross profit improved by 14.6% to SAR998.47m. The gross margin was almost stable at 16.5%. On an annual basis, the EBIT was slightly up by 3.6% to SAR209.77M. Thus, the EBIT margin stood at 2.8% (-50 bps).Abdullah Al Othaim Markets CompanySJSC Formerly known as Abdullah Al-Othaim Markets Company. Abdullah Al-Othaim Markets Company SJSC is a Saudi Arabia-based joint stock company engaged in the retail and wholesale trade of food stuff, in addition to constructing commercial malls and investing in their sales or leases. The Company undertakes wholesale trading in food supplies, fish, meat, cars and its spare parts, agricultural crops and livestock, and household equipment; constructing, managing, operating and maintaining of super markets, malls, and storage and cooling warehouses; cooked and non-cooked catering services; computer services, and operating and maintaining electrical and mechanical equipment. During the year 2011, the Company operated seven hypermarkets, 65 supermarkets, eight wholesale outlets and 26 corners.
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