This growth is attributed to the continuous enhancement of the shopping experience and the success of promotional campaigns, which led to an increase in sales volume within the retail sector. Furthermore, the e-commerce segment contributed to this growth, recording a 10% increase in sales during this quarter compared to the same quarter last year, representing 22.4% of the retail sector's sales.

In the consumer finance sector, Income witnessed a 23% increase compared to the same quarter of the previous year, driven by a 28.4% growth in the consumer finance portfolio during the same period.

Additionally, the company witnessed an improvement in the gross profit margin by 1.9% during the current quarter compared to the same quarter last year, recording the highest margin in the company's history at 25.8%. This improvement was attributed to an enhanced sales mix and growth in the consumer finance sector.

This performance was reflected in the net profit, which grew by 40.9%, despite higher selling, distribution, and general and administrative expenses to support the company's operational expansion.

It is worth noting that the net profit for the current quarter included SAR 10.5 million from the reversal of provisions after recovering amounts previously associated with debts granted by United Electronics Company in the retail sector. Excluding the financial impact of this reversal, the adjusted net profit growth would be 32.6%.

This growth is attributed to:

- An increase in retail sector sales driven by a notable improvement in the shopping experience for the company's customers and the growth of the e-commerce segment, which contributed to higher sales volumes.

- Growth in consumer finance income, supported by a 28.4% increase in the consumer finance portfolio during the same period.

Gross profit increased by 14.5% compared to the same period last year, leading to a net profit of SAR 534.5 million, compared to SAR 390.5 million for the same period last year, achieving a growth rate of 36.9%.

When excluding the impact of non-recurring events, including:

- The discontinuation of the company's expansion plans in the Arab Republic of Egypt during the same period last year.

- The reversal of provisions amounting to SAR 16.3 million related to potential obligations no longer needed in the retail sector during the current period.

- Debt recovery amounting to SAR 10.5 million resulting in the reversal of provisions for previously granted debts by United Electronics Company in the retail sector.

The adjusted net profit growth rate becomes 18.5%.