Cenomi Retail’s Q2 Profit Drops 50.4% to SAR 84.1 Million

Fawaz Abdulaziz Alhokair Co. (Cenomi Retail) reported a 50.4% decline in net profit for the second quarter, registering SAR 84.1 million compared to SAR 169.8 million in the same quarter last year. This was disclosed in the preliminary financial results for the period ending June 30, 2024.

The company’s operating profit for Q2 fell to SAR 176.2 million, a 30.8% decrease from SAR 254.9 million in the previous year’s corresponding period.

Total shareholders’ equity, after deducting minority interests, stood at a negative SAR 929.9 million for the six-month period, down from a profit of SAR 428.9 million in the same period last year.

Loss per share for the current period reached SAR 0.6, compared to SAR 0.98 in the previous year.