RIYADH: Fawaz Abdulaziz Alhokair Co. has turned into profit in its fiscal year ended March 31, supported by a post-pandemic rebound in sales. The Saudi retailer made SR38 million ($10 million) in profit, after erasing losses of SR1.11 billion from a year earlier, according to a bourse filing. The profit hike was coupled with a 40-percent rise in revenue due to a gradual ease of COVID-19 restrictions which led to a recovery in trading activity and consumer spending. Revenues reached as high as SR5.9 billion by the end of the fiscal year. “The robust results are supported by the trading activity returning to pre-pandemic levels, the successful execution of the operational upgrade strategy, and the strength of our teams across the business,” said interim CEO Mohamad Mourad, commenting on the results. Based on the strong foundation set during the past year and the positive momentum in key markets, he said the company expects to build on its growth trajectory to deliver a credible performance in the fiscal year 2023.