The retailers listed in the Saudi stock exchange have reported a net profit of SR789.43 million ($210.41 million) for the first quarter of this year, an increase by SR45 million ($11.99 million) compared to the same period last year.

The retail sector sales rose to SR8.4 billion ($2.23 billion), compared to SR7.2 billion ($2.91 billion) during the same period last year, an increase of 17 per cent, said a report in the Saudi Gazette.

The sector consists of 15 joint-stock companies after the listing and trading of the Saudi Company for Hardware (Saco), it added.

The market value of retail companies amounts to SR88.6 billion ($23.61 billion), accounting for 4.12 per cent of the Saudi market. The capital of these companies amounts to SR9.01 billion ($2.42 billion).

Fawaz Abdulaziz Alhokair & Company is the largest company in the sector, with a capital of SR2.1billion ($559.7 million); followed by Al Hammadi Company for Development and Investment, with a capital of SR1.2 billion ($319.8 million); and Jarir Marketing Company with a capital of SR900 million ($239.8 million).