Fawaz A. Alhokair & Co. Tadawul “HOKAIR’ today announced interim results for the period ending 31st March, 2015, and twelve month results to the same date.
The company reports:-
- A 26% increase in global sales, versus the previous year.
- An increase, versus the previous year, of:
- Gross profit, +28%
- Operating profit, +18%
- Net Profit, +4.1%
- An increase in trading space through the opening of 354 new mono-brand stores, 221 of which were in Saudi Arabia, representing a total 104, 588 Sq. M.
During the final quarter, sales in domestic market of Saudi Arabia rose significantly due to an influx of spending, as a result of two months’ bonus paid to government employees, by the Custodian of the Two Holy Mosques.
The company has achieved 4.5% margin improvement in the fourth quarter by driving more efficiently in stores operating cost.
Mr. Simon Marshall, Chief Executive Officer said:
“Today we’re reporting a momentous company-wide quarter, driven by our domestic market of Saudi Arabia, within a full year of sustained growth in sales, space and profitability. Our business model continues to attract franchise partners from around the world, and the execution of our long-term expansion strategy through acquisitions and mono-brand store openings continues to deliver results. The execution by our teams, globally, has been phenomenal, and we remain laser focused on maximizing shareholder value throughout 2016 and beyond.”
For further information please contact:
Mr. Brendan Dorrian
Head of Business Development, Fawaz A. Alhokair & Co
UK Cell: +447778897111