Jarir Marketing Company (4190) saw its net profits slightly increase in the third quarter of this year to around SAR 308 million, marking a 4% YoY increase.
Details
Jarir, known for its high-end bookstores in Saudi Arabia, the UAE, Qatar, and Kuwait, was affected by increased selling and marketing expenses, from July to September.
This included administrative and general expenses, as well as non-operational expenditures.
So what
The total profit of the company, one of the largest computer retailers in the Middle East, grew by 7.9% YoY during the third quarter.
This was attributed to the relative improvement in profit margins on smartphone sales due to discounts offered by suppliers.
Quarterly revenues reached SAR 2.66 billion, up 1%.
Some context
In the first nine months of this year, “Jarir” reported a slight decline in net profits of about 0.2% YoY to reach SAR 698.6 million.
Earnings per share reached 0.58 Riyals, the same as recorded in the corresponding period last year.
