Al Othaim opens 9 branches in Saudi Arabia in Q1 2022

06/06/2022 Argaam

Logo of Abdullah Al Othaim Markets Co.

Abdullah Al Othaim Markets Co. opened nine new branches in Q1 2022, increasing its branch network by 7.31% year-on-year (YoY) by the end of the three-month period.

 

Al Othaim runs 312 retail branches, spanning 528,000 square meters (sqm) across the Kingdom and Egypt, the company indicated during its Q1 2022 investor presentation.

 

Stretching over 504,000 sqm, a total of 268 retail stores are located in Saudi Arabia, while 44 branches are based in Egypt at 24,000 sqm, contributing 89.39% of sales.

 

Al Othaim reported SAR 91.3 million profit in Q1 2022, up 58% from SAR 57.7 million in Q1 2021, Argaam earlier reported.

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