Saudi Arabian retailer Fawaz Abdulaziz Alhokair Company reported a 10.25 per cent rise in first-quarter profit on Tuesday, missing analysts' estimates.

The company made a net profit of SR210.8 million ($56.2 million) in the three months to June 30, up from 191.2 million riyals in the year-earlier period, according to a bourse filing. Alhokair's financial year starts on April 1.

Analysts forecast a quarterly net profit of SR233.02 million.

Alhokair said its quarterly profit rise was due to an 11 per cent increase in operating income to SR239.5 million. An 18.8 per cent year-on-year jump in sales to SR1.98 billion, driven by the opening of new stores and acquisitions, supported the higher operating income. -Reuters