Jarir Profits up 17% in Q2 on Retail Sales

Press release

Published July 13th, 2017 - 11:47 GMT

Jarir

The financial statements of Jarir Marketing on Thursday revealed a 16.84% growth in net profits for the second quarter of 2017, whereas quarter-on-quarter the profits slid 33.24%.

The Saudi firm achieved SAR 147.8 million in Q2-17, compared to SAR 126.5 million in Q2-16, according to a filing to the Saudi Stock Exchange (Tadawul).

The Tadawul-listed company attributed the increase in profits to the rise in the retail department’s electronics section on the back of growth in smart phones sales, and due to the increase in retail showrooms to 47 from 42.

Source: Mubasher

Background Information

Jarir

Jarir Marketing Company (also popularly known as “Jarir Bookstore” or “Jarir”) was established in Riyadh in 1974 as a small bookshop. In the eighties, Jarir opened a second branch in Riyadh followed by one in the nineties.

In 2002, Jarir became a Joint Stock Company (CR No. 1010032264) and was listed in the Saudi Capital Market (Tadawul) in the year 2003. Currently, Jarir has a paid-up capital of SR 1.20 Billion. Jarir is a retailer and wholesaler of its products in Saudi Arabia and in other GCC Countries.