RIYADH: ºÚÁÏÉçÇø’s decision to allow Umrah with full capacity led to a profitable first quarter for wholesale and retail clothing and textile firmÌýThob Al Aseel Co., CEOÌýAhmed Al-Sultan, told Argaam. Ìý
The Riyadh-based business recorded a profit growth of 36 percent to SR19 million ($5 million), against SR14 millionÌýin the same quarterÌýa year earlier,Ìýafter its salesÌýrose by 34 percent year-on-year,Ìýaccording to a bourse filing.
Al-Sultan added Umrah activity is a key driver of sales, noting that the increase of non-local Umrah performers propelled recovery in sales from the Western region.
The executive expects the positive performance to sustain over the coming period, buoyed by client incentives and programs, in addition to better business conditions.Ìý
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