Shares in Saudi wholesaler Al Othaim up as it posts higher Q1 profit | Arab News
Wednesday, 11 May 2022
RIYADH: Saudi Abdullah Al Othaim Markets saw its shares jump 1.4 percent almost one hour into trading on Wednesday after the wholesaler posted strong first-quarter earnings. As food demand surged during the Ramadan season, profit rose to about SR91 million ($24 million) from SR57.68 million recorded in the same period last year. This was driven by higher sales which increased by 17.4 percent to SR2.46 billion in the first quarter from the same period a year ago, a bourse filing revealed.
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