The profits of “Al -Othaim Markets” jump to 286.5 million riyals in the fourth quarter of 2024

The profits of Abdullah Al -Othaim Market Company jumped in the fourth quarter of 2024 by 72.9% to 286.49 million riyals, compared to 165.7 million riyals in the same quarter of last year.
The company said in a statement on Saudi Arabia’s circulation: The profits increased as a result of sales growth by 2.61% with a rise in profit margin and the improvement of rental revenues, in addition to increasing the company’s share of the profits of associate companies.
The company achieved about 161.3 million riyals (after zakat) from the fourth mills company for public subscription. Taking into account the high costs of borrowing at an amount of 6.9 million riyals, and the expenses accompanying the new branches, the most prominent of which is the cost of financing lease contracts in the amount of 12 million riyals, according to the international standard of the financial report, 16 “rental contracts”.