DUBAI: Fawaz Abdulaziz Alhokair Co, the Saudi Arabian retailer which franchises brands such as Zara and Marks and Spencer in the kingdom, reported a 40 percent year-on-year leap in net profit for its fourth quarter ended March 31.
Profit climbed to SR190.8m, missing the average forecast.
Sales climbed 10 percent in the quarter to SR1.36bn. In a brief statement, Alhokair attributed the size of the profit rise to other income which it did not specify.
For the full financial year, net profit rose 24 percent to SR771.4m, as sales increased 18 percent to SR5.48bn.
The company also said it planned to pay a dividend of SR3 per share for the second half of its last financial year. Reuters
