Weaker than expected...
Over Q3 2015, Alhokair recorded a sales decrease of 0.55% compared to the same quarter of the previous year (SAR1,540M Q3 2015 vs. SAR1,548.51M Q3 2014). The EBIT also witnessed a decline of -13.3% to SAR109.34M, pushing the net profit down by -14.15% to SAR91.17M.Q3 2015 net profit decrease is mainly due to low earnings from branches outside the KSA following the Euro decline in Spain and the currency depreciation in Kazakhstan (-39%) and Azerbaijan (-28%).
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