RIYADH: In its June 2020 issue and for the third year in a raw; Forbes Middle-East continues to select Abdullah Al-Othaim Markets Company among the 100 largest public companies in the Middle-East for the year 2020.
The selection was based on the company financial and commercial performance in the year 2020, were Forbes raised its estimate of the company's market value to $ 2.2 billion and the assets value to $ 1.3 billion, the company's previous year revenues exceeded $ 2.2 billion. The Company ranked among the largest 100 companies in the Middle-East, in the comparison that covered various major industrial, financial and economic entities in the Middle-East, the company ranked third in the retail sector in Saudi Arabia, and the sole company in the food retail sector.
Board member and CEO of Abdullah Al-Othaim Markets Company Abdulaziz Abdullah Al-Othaim said "We're proud of the continuous selection of the company among the 100 largest companies in the Middle-East by Forbes"; he added " In light of the excellent customer services offered to customers; we are very optimistic for the promising future of the company and the sustainable growth and success". Abdulaziz concluded "We managed to achieve high Sales rates and excellent market share growth in the previous three years by adopting an aggressive growth strategy, with an increasing number of branches reaching 243 branches around the Kingdom, which reflects the company's eagerness to serve all society segments, and contribution to the economic growth of the kingdom under 2020 vision under the guidance of my lord the Custodian of the Two holy mosques and his crown prince, Prince Muhammad bin Salman, may God bless them."
Out of his genuine belief in the importance of the team work; Abdulaziz took the opportunity to express his gratitude to the company’s team for their pivotal role in the success achieved over recent years, and expressed aspirations to continue the efforts for more successes over the coming period.
It is noteworthy that Forbes the reputable global magazine issued monthly; is considered among the elite specialized magazines providing financial and economic reports to the business community with close monitoring and analysis of financial statistics, growth, revenues and assets of large companies around the globe. Forbes is issued periodically in Seven different languages across the world, including an Arabic version issued by the Middle-East region.
