22-07-2025
Al Othaim says related-party deals reach 1% of annual revenue
Abdullah Al Othaim Markets Co. said its ongoing deal with subsidiary Mueen Human Resources Co. reached 1% of total revenue, based on the latest audited annual results.
The labor supply contract runs for two years, renews automatically, and has a variable value assessed annually based on the company's requirements.
The company said the deal is part of its ordinary course of business, carried out under standard commercial terms, and disclosed in line with Article 65, paragraph 11, of the Securities Offering and Ongoing Obligations Rules.
According to Argaam estimates, 1% of Al Othaim's 2024 revenue is about SAR 107.2 million, from total revenue of SAR 10.7 billion.
