Saudi Arabia-based Abdullah Al Othaim Markets Company has inaugurated its 43rd branch in Egypt, CEO Abdulaziz Abdullah Al Othaim said.
This investment is part of the company’s expansion strategy in Egypt and abroad, Al Othaim added, according to a formal statement.
Spanning 380 square metres, the new branch is located in Faisal region, Giza governorate.
In August, Abdullah Al Othaim Markets opened its 42nd branch in Giza.
The firm last reported a 4.07%year-on-year profit rise, reaching SAR 74.11 million during the second quarter of 2018, compared to SAR 71.21 million.
On Thursday, 20 September, Abdullah Al Othaim Markets’ stock increased 1.19% to close at SAR 67.80.
On a related note, the Saudi Stock Exchange (Tadawul) halted trading activities on Monday after King Salman bin Abdulaziz Al Saud ordered that the country’s National Day holiday to be extended to include Monday, 24 September.