Al Othaim Markets rules out international expansions, says CEO

22/01/2015 Argaam

Al Othaim Markets has ruled out plans to pursue international expansions, said chief executive Youssef Al-Gafari.


The Saudi-based company seeks to boost its foothold in Saudi Arabia since it sees room for potential, he was quoted as saying in CNBC Arabiya.

The company’s new outlets contributed nine percent to fourth quarter 2014 total sales amounting to SAR 1.34 billion, Al-Gafari added.

The Tadawul-listed company posted a 6 percent increase year-on-year in Q4-2014 earnings to SAR 74.2 million, according to data available on Argaam.

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