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SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

Al-Othaim posts $37m profit

The retailer declared a dividend payout for the first half of the year amounting to $48 million, representing SR2 per share, to be paid in September. (Othaim Markets)
By TRENDS Desk
August 18, 2022 2:55 pm
  • The retailer said that its share in the profit of its associate Gulf Flour Milling Co. boosted this period’s results, as it was not recorded in the prior year
  • The company incurred higher costs from opening new stores and enhancing competencies in senior positions

Abdullah Al-Othaim Markets Co. has posted a profit of $37 million during the first half of 2022 on the back of sales growth.

The retailer noted that its share in the profit of its associate Gulf Flour Milling Co. boosted this period’s results, as it was not recorded in the prior year.

However, it incurred higher costs from opening new stores and enhancing competencies in senior positions, in addition to the fact that profits from its mall unit, Abdullah Al-Othaim Investment Co., were derecognized.

In a separate filing, the retailer declared a dividend payout for the first half of the year amounting to $48 million, representing SR2 per share, to be paid in September.

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