Abdullah Al Othaim Investment posts 103% surge in H1 2022 profit to SAR 159 mln

02/10/2022 Argaam
Logo ofAbdullah Al Othaim Investment Co.

Logo of Abdullah Al Othaim Investment Co.

Abdullah Al Othaim Investment Co. posted a net profit of SAR 159 million for the first half of 2022, soaring 103% year-on-year (YoY).

 

In a statement, the company stated that the total consolidated revenue rose 13.7% YoY to SAR 441 million.   

 

The gross profit margins increased by 22% in H1 2022, driven by stable performance and growth in operating segments, such as the commercial complexes, leisure and fashion retail, as well as the leisure business in Egypt, UAE, Qatar, Oman and Bahrain. 

 

Established in 2005, the company mainly operates in the development, operation and management of commercial complexes. Its subsidiaries include Abdullah Al Othaim Leisure Co. and Abdullah Al-Othaim Fashion Co.  

 

Abdullah Al-Othaim Investment decided to cancel its decision to float 30% of capital on the Saudi Exchange (Tadawul), which was scheduled between late May and early June 2022. 

 

In 2021, the firm announced its expansion plan until 2030, which includes opening 20 new commercial complexes at the cost of more than SAR 10 billion.  

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