(MENAFN) The Saudi Arabian retail sector witnessed 15.5 percent growth in profits and is set to record more growth in the upcoming months, according to Al Rajhi Capital, Zawya reported.
The food sector accompanied retail's success in the quarter through posting 11.6 percent growth in profits. The significant results are attributed to the sturdy and much improved performance of the Saudi companies specialized in the sectors.
More success is yet to come since most of the retail companies in the kingdom have announced major expansion plans to take advantage of the favorable demographics.
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