Revenue increased by 0.3% yoy (+23.0% qoq) to SAR1.71bn and came higher than our estimates of SAR1.50bn.
Alhokair opened a net of 12 retail stores in Q1 FY23. For the F&B segment, it closed a net of 4 stores
Following the reduction of capital by 45.3% by cancelling 95.2mn shares, the company’s capital stood at SAR1.15bn.
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