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Mowaffaq Mabara, CEO of Abdullah Al-Othaim Markets Company, said that the company achieved sales that exceeded 2.8 billion riyals thanks to the well-studied expansions, and these are the highest quarterly sales in the company’s history.
Mabara explained in an interview with CNBC Arabia that the company achieved a 38% growth in marketing leasing, indicating that approximately 4.5% of the operating profit was through marketing leasing.
And he indicated that the company does not have any loans and enjoys strong liquidity and positive cash flows that, after placing them in legitimate deposits, contributed to an increase in profits, indicating that in addition to selling some assets during the past year, it continues to obtain positive cash flows through the optimal use of cash and the implementation of future expansions, which will help it on growth.
He added that the company has more than 315 sales outlets inside the Kingdom that are witnessing a high demand from customers, indicating that there is a continuous growth in the number of sales operations, and that the company continues to exploit the solid infrastructure that it enjoys, which is reflected in operating expenses.
He stated that the company has programs to increase efficiency that are continuing to be implemented, indicating that it keeps pace with every change in consumer behavior and is in continuous development.
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