Monday, 23 January 2012

Othaim Markets Company announced the preliminary financial results for the period ended 31/12/2011 ,the net profit reach 36.5 million riyals during the fourth quarter, compared to 36 million riyals for the third quarter for the same year,with an increase of 1.4%, while the total profit during the fourth quarter of 81.2 million riyals. Mr. Abdullah Bin Saleh Al Othaim Chairman Said ,the net profit for the year 2011, amounted to (150.1) million, while gross profit during the same year (323.1) million compared to (278.3) million SR for the same period at previous year with an increase of (16.1%). He said, the operating profit for the twelve months amounted to (157.6) million compared to (145.1) million for the same period of the previous year with an increase of (8.6%). The Chairman explained that the company has achieved growth in revenues for the same period by 16.3%, as the company's revenues amounted to 4.091 million riyals in 2011 versus 3.519 million for the year 2010. Othaim Markets Company characterized by large base of clients were received more than (39) million shoppers, also won the position number (54) within the one hundred largest Saudi company for the year 2011.