Al Othaim makes SAR 135M profit in 9M 2025, SAR 17.5M in Q3

The company reported that its lower profit for the current period was attributed mainly to weaker profit margins following promotional offers and discounts introduced to preserve market share. These initiatives supported a 3.9% increase in sales.

Operating costs also rose across sales channels, reflecting higher expenses associated with new openings —those operating for less than two years—particularly lease financing costs in line with IFRS 16 standards.

Despite these factors, sales grew on the back of branch expansion and greater diversification of sales channels.

The performance of associate companies also improved, with leasing revenues rising as new retail spaces were rented out and real estate financing income increasing after the renewal of a commercial complex lease in Dammam. In addition, the company’s subsidiary, Mueen Recruitment Co. (Mueen) posted higher earnings from its labor services operations.

In Q3, Al Othaim’s net earnings fell by 74.7% to SAR 17.4 million, from SAR 69.1 million in the corresponding period of 2024.

Similarly, net earnings dropped 57.5% from SAR 41.1 million in Q2 2025.

Total shareholders’ equity, after minority interest, reached SAR 1.20 billion as of Sept. 30, 2025, up from SAR 1.08 billion a year earlier.