Riyadh – Mubasher: Al Saif Stores for Development and Investment Company (Alsaif Gallery) has opened its first showroom in Oman, according to a bourse statement.
Located in Muscat, the exhibition spans 1,200 square metres and will reflect on the company’s financial results at the end of the first quarter (Q1) of 2024.
The inauguration aligns with Alsaif Gallery’s expansion plans in the Gulf region, where two branches were opened in the UAE and an additional two branches in Kuwait in 2023.
Last October, the listed firm disbursed cash dividends valued at SAR 35 million for Q2-23.
In the first nine months (9M) of 2023, the company’s net profits after Zakat and tax plunged by 20.28% to SAR 81.09 million from SAR 101.72 million in 9M-22.
Revenues amounted to SAR 527.04 million as of 30 September 2023, down 4.29% year-on-year (YoY) from SAR 550.70 million.
