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RIYADH: Fawaz Abdulaziz Alhokair Co. has turned into profit in its fiscal year ended March 31, supported by a post-pandemic rebound in sales.
The Saudi retailer made SR38 million ($10 million) in profit, after erasing losses of SR1.11 billion from a year earlier, according to a bourse filing.
The profit hike was coupled with a 40-percent rise in revenue due to a gradual ease of COVID-19 restrictions which led to a recovery in trading activity and consumer spending.
Revenues reached as high as SR5.9 billion by the end of the fiscal year.
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