Saudi retailer BinDawood’s stock falls despite profit growth to $17m

Its stores in Makkah and Madinah benefited from the government’s decision to lift restrictions on pilgrims performing Umrah. (Supplied)
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Updated 23 May 2022
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Saudi retailer BinDawood’s stock falls despite profit growth to $17m

RIYADH: BinDawood Holding Co., a leading retail operator in the Kingdom, has recorded a drop in its share price, hours after it announced a surge in first-quarter profit.

Shares of the company were down 0.9 percent to SR91.4 ($24.4) as of 1:07 p.m. Saudi time on Monday.

The group reported SR65.5 million in profit, a slight increase from SR62 million in the same period of 2021, thanks to the ease of pandemic restrictions.

Along with the profit increase, revenues reached SR1.18 billion, up from SR1.12 billion a year earlier, mainly boosted by a rise in sales during the back-to-school season.

Stores in Makkah and Madinah benefited from the government’s decision to lift restrictions on pilgrims performing Umrah, the company noted.

“We are finally beginning to see a marked improvement in trading,” CEO Ahmad BinDawood said, commenting on the results.

“Greater freedom of movement for the local population has led to higher consumer spending in general, and more specifically, an increase in footfall through our stores,” he added.


King Abdulaziz Airport among world’s busiest after record-breaking 2025

Updated 02 January 2026
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King Abdulaziz Airport among world’s busiest after record-breaking 2025

RIYADH: King Abdulaziz International Airport has achieved a new historical milestone, reaching 53.4 million passengers in a single year.

This is the highest number ever recorded at a Saudi airport since the beginning of air travel in the Kingdom, placing it among the world’s mega airports in terms of passenger traffic, according to the Saudi Press Agency.

The airport handled a total of 310,000 flights and 60.4 million bags, representing a 12 percent increase compared to 2024. It also handled 9.57 million Zamzam water containers and 2,968 cargo flights. 

This achievement reflects the airport’s qualitative transformation and its position as a regional hub and national gateway connecting the Kingdom to the world. It also highlights its role in facilitating the movement of visitors and pilgrims, promoting tourism in line with the goals of Vision 2030, diversifying the economy, and providing a distinguished travel experience. 

For his part, CEO of Jeddah Airports Co. Mazen Johar, affirmed that reaching 53.4 million passengers confirms the airport’s high operational readiness and represents a pivotal milestone for moving to the next phase, in preparation for doubling this number, God willing, in the coming years. 

He pointed out that this national achievement would not have been possible without the grace of God Almighty, followed by the directives of the wise leadership and the continuous follow-up from the minister of transport and logistics, the president of the General Authority of Civil Aviation, and the CEO of Airports Holding Co. 

He explained that King Abdulaziz International Airport is strengthening its position as a major aviation hub in the region through expansions, increased capacity, and improved services, supporting the objectives of the aviation program and aligning with the goals of the Kingdom’s Vision 2030. 

The CEO of Jeddah Airports Co. expressed his gratitude to the partners in success from various government and private sectors for their fruitful cooperation through a collaborative work system that contributed to providing the best services.