Latest news with #BinDawoodHolding
Argaam
4 days ago
- Business
- Argaam
Q2 2025 topline, margin growth came despite expansion cost pressures: BinDawood Holding CEO
Ahmad Abdulrazzaq BinDawood, CEO of BinDawood Holding Co., said that the expenses incurred by the company during Q2 2025 represent a strategic investment that aims to boost sustainable growth in the long term. The robust performance delivered by Zahrat Al-Rawdah Pharmacies in terms of revenue and margins came backed by expansion in standalone branches and merger of branches into Danube and BinDawood stores, the CEO told Argaam in an interview. He further stated that the company's Q2 2025 financial results reflect the strength of its business model and its ability to achieve sustainable growth, despite the decline in net profits. The company's revenues grew by 4%, amid higher gross profit margin. The decline in net profit was primarily due to increased operating expenses resulting from strategic expansion, especially following the acquisition of Zahrat Al Rawdah Pharmacies and the opening of new stores, in addition to higher financing costs, according to the top executive. He stressed that, in light of the growing competition in the Saudi retail market, BinDawood is focusing on improving its customer experience, expanding its digital presence, and investing in sectors with higher profit margins, in addition to expanding the number of stores and branches. BinDawood also expects continued robust performance in Q3 2025, underpinned by the back-to-school season and the fruits of investments made in the first half of the year in the pharmacies, distribution, and IT segments, with a focus on increasing cost efficiency and improving margins to ensure sustainable results.
Zawya
4 days ago
- Business
- Zawya
Mideast Stocks: Saudi slips on weaker corporate earnings; Egypt hits new record high
Saudi Arabia's stock market slipped on Sunday as some lacklustre corporate results came in, while Egypt's benchmark share index advanced for a seventh day to hit a fresh record high amid economic optimism and falling inflation. Saudi Arabia's benchmark index was down for a second straight session, falling 0.3% as most of its constituents posted losses. Arabian Contracting Services slumped 10% after the advertising firm posted a second-quarter net loss, compared with a profit last year, and BinDawood Holding declined 1.2% as the major retailer reported a 32.7% decrease in net profit for the second quarter. Among other fallers, Jahez dropped 10% after the IT services provider posted a 21.9% fall in second quarter net profit. The Qatari benchmark index was little changed after it hit a more than 2-1/2-year high in the previous session. Losses in the real estate, industry and materials sectors offset gains in energy, communication and finance. Industries Qatar fell 1.9% and Mesaieed Petrochemical shed 1.2%, while Qatar Islamic Bank and Estithmar advanced 0.7% and 7.9% respectively. Outside the Gulf, Egypt's blue-chip index extended its rally to a seventh session, rising 0.8% to a new all-time high at 36,110 with most stocks climbing. Orascom Development jumped 5.4% and Sidi Kerir Petrochemicals advanced 2.2%. Meanwhile, Egypt's annual urban consumer price inflation dropped to 13.9% in July from 14.9% in June, data from statistics agency CAPMAS showed on Sunday. SAUDI ARABIA dropped 0.3% to 10,899 KUWAIT up 0.6% to 9,320 QATAR ended flat at 11,362 EGYPT rose 0.8% to 36,110 BAHRAIN ended flat at 1,944 OMAN up 0.1% to 4,856 (Reporting by Md Manzer Hussain; Editing by Hugh Lawson)
Business Recorder
4 days ago
- Business
- Business Recorder
Saudi stock slips on weaker corporate earnings
DUBAI: Saudi Arabia's stock market slipped on Sunday as some lacklustre corporate results came in, while Egypt's benchmark share index advanced for a seventh day to hit a fresh record high amid economic optimism and falling inflation. Saudi Arabia's benchmark index was down for a second straight session, falling 0.3% as most of its constituents posted losses. Arabian Contracting Services slumped 10% after the advertising firm posted a second-quarter net loss, compared with a profit last year, and BinDawood Holding declined 1.2% as the major retailer reported a 32.7% decrease in net profit for the second quarter. Among other fallers, Jahez dropped 10% after the IT services provider posted a 21.9% fall in second quarter net profit. The Qatari benchmark index was little changed after it hit a more than 2-1/2-year high in the previous session. Losses in the real estate, industry and materials sectors offset gains in energy, communication and finance. Industries Qatar fell 1.9% and Mesaieed Petrochemical shed 1.2%, while Qatar Islamic Bank and Estithmar advanced 0.7% and 7.9% respectively. Outside the Gulf, Egypt's blue-chip index extended its rally to a seventh session, rising 0.8% to a new all-time high at 36,110 with most stocks climbing.
Reuters
5 days ago
- Business
- Reuters
Saudi slips on weaker corporate earnings; Egypt hits new record high
Aug 10 (Reuters) - Saudi Arabia's stock market slipped on Sunday as some lacklustre corporate results came in, while Egypt's benchmark share index advanced for a seventh day to hit a fresh record high amid economic optimism and falling inflation. Saudi Arabia's benchmark index (.TASI), opens new tab was down for a second straight session, falling 0.3% as most of its constituents posted losses. Arabian Contracting Services ( opens new tab slumped 10% after the advertising firm posted a second-quarter net loss, compared with a profit last year, and BinDawood Holding ( opens new tab declined 1.2% as the major retailer reported a 32.7% decrease in net profit for the second quarter. Among other fallers, Jahez ( opens new tab dropped 10% after the IT services provider posted a 21.9% fall in second quarter net profit. The Qatari benchmark index (.QSI), opens new tab was little changed after it hit a more than 2-1/2-year high in the previous session. Losses in the real estate, industry and materials sectors offset gains in energy, communication and finance. Industries Qatar ( opens new tab fell 1.9% and Mesaieed Petrochemical ( opens new tab shed 1.2%, while Qatar Islamic Bank( opens new tab and Estithmar ( opens new tab advanced 0.7% and 7.9% respectively. Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab extended its rally to a seventh session, rising 0.8% to a new all-time high at 36,110 with most stocks climbing. Orascom Development ( opens new tab jumped 5.4% and Sidi Kerir Petrochemicals( opens new tab, ( opens new tab advanced 2.2%. Meanwhile, Egypt's annual urban consumer price inflation dropped to 13.9% in July from 14.9% in June, data from statistics agency CAPMAS showed on Sunday.
Arab News
5 days ago
- Business
- Arab News
Nestlé Academy concludes 7th training program in partnership with BinDawood
Nestlé Saudi Arabia and BinDawood Holding concluded the 7th edition of the Nestlé Academy Specialized Training Program with the graduation of 38 trainees after four weeks of intensive training, The graduation ceremony was held in Jeddah in the presence of Waleed bin Dawood, chief commercial officer of BinDawood Holding, and Bassel Moghrabi, Nestlé's director of sales for Saudi Arabia, Bahrain and Oman. The training program witnessed a field visit by representatives from the Ministry of Environment, Water and Agriculture and the Ministry of Industry and Mineral Resources. Representatives of the two ministries observed the trainees' hands-on experience, as well as provided training sessions that enriched the knowledge content of the participants and expanded their awareness of the role of these entities in supporting the food sector. This edition stood out through a strategic partnership with one of Nestlé's key clients, BinDawood Holding, a leading retail company with over 100 branches across the Kingdom. The program lasted four weeks, three of them were dedicated to training at Nestlé's headquarters in Jeddah, and included workshops and educational classes on the basics of sales in the labor market, workshops on developing communication and sales skills as a key pillar of the success of any business, in addition to field visits to Nestlé warehouses and supermarkets, and practical applications, which contributed to enhancing practical as well as theoretical knowledge. One week of training was conducted with BinDawood Holding, where an integrated field schedule was prepared that included visits to the company's commercial branches. Students learned about the way products are displayed and sold, the mechanism of cooperation between the two companies, the nature of selling Nestlé products within the branches of BinDawood Holding, methods of targeting consumers, distribution departments, and preparing advertisements for products, all of which helped them to enhance their understanding of the work environment in a realistic way. The Nestlé Academy has contributed to developing national competencies through six previous editions of innovative training programs, qualifying more than 250 individuals who graduated from the academy's programs, which covered sales, supply chain, nutrition, and cooking. This edition comes as an extension of Nestlé's commitment to youth empowerment in the labor market. The academy's programs provide integrated training curricula and field experiences that contribute to raising the efficiency of youth and empowering them with the skills required in the Saudi labor market, in alignment with the goals of the Kingdom's Vision 2030.
