reports
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%).
Strong fundamentals confirmed again
H1 sales increased up 11.7%, yoy, to SAR4.2Bn vs.SAR 3.7Bn in H1 2014. Q2 2015 revenues were worth SAR2.2Bn, up by 6.1%, yoy. The Q2 net profit amounted to SAR310.7M, witnessing 2.3% and 47.4% yoy and qoq growth, respectively. For the six first months, the net profit grew by 5.3% to SAR521.5M.
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