Jarir net profit drops 16% in first nine months of 2016

06/10/2016 Argaam Exclusive

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Share Price

Jarir Marketing Co. (JARIR)

Jarir Marketing Company, which operates Jarir Bookstores, reported a net profit of SAR 522.6 million for the first nine months of 2016, a 15.8 percent fall compared to the same period last year. The decline was attributed to lower sales of computers and electronics, higher selling and distribution expenses, as well as administrative costs.

Financials (M)

Item	9m 2015	9m 2016	Change‬
Revenues	4,851.32	4,329.10	(10.8 %)
Gross Income	728.29	630.46	(13.4 %)
Operating Income	610.80	497.94	(18.5 %)
Net Income	620.38	519.36	(16.3 %)
Average Shares	1,200.00	1,200.00	-
EPS (Riyals)	0.52	0.43	(16.3 %)

Net profit for third quarter saw a slight rise of 0.7 percent year-on-year to SAR 220 million, thanks to lower non-operating expenses. The profit for the period was 71 percent higher than the SAR 128.5 million in the previous quarter.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2015	Q3 2016	Change‬
Revenues	1,536.06	1,520.93	(1.0 %)
Gross Income	253.41	252.93	(0.2 %)
Operating Income	215.98	215.03	(0.4 %)
Net Income	218.50	217.92	(0.3 %)
Average Shares	1,200.00	1,200.00	-
EPS (Riyals)	0.18	0.18	(0.3 %)

Item	Q2 2016	Q3 2016	Change‬
Revenues	1,390.74	1,520.93	9.4 %
Gross Income	162.76	252.93	55.4 %
Operating Income	116.18	215.03	85.1 %
Net Income	126.48	217.92	72.3 %
Average Shares	1,200.00	1,200.00	-
EPS (Riyals)	0.11	0.18	72.3 %

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2007	428.49	9.6 %	88.95	6.5 %	80.09	5.3 %	0.07
Q2 2007	394.51	23.4 %	69.45	27.4 %	54.35	23.8 %	0.05
Q3 2007	477.65	6.9 %	101.24	3.1 %	87.48	8.3 %	0.07
Q4 2007	440.58	26.5 %	72.36	16.9 %	54.33	27.7 %	0.05
2007	1,741.23	15.7 %	332.00	11.3 %	276.25	13.6 %	0.23
Q1 2008	597.65	39.5 %	120.72	35.7 %	97.11	21.3 %	0.08
Q2 2008	617.40	56.5 %	91.47	31.7 %	67.08	23.4 %	0.06
Q3 2008	636.72	33.3 %	109.92	8.6 %	88.40	1.0 %	0.07
Q4 2008	668.15	51.7 %	112.89	56.0 %	80.18	47.6 %	0.07
2008	2,519.92	44.7 %	434.99	31.0 %	332.77	20.5 %	0.28
Q1 2009	662.06	10.8 %	126.50	4.8 %	107.45	10.6 %	0.09
Q2 2009	572.96	(7.2 %)	102.47	12.0 %	72.41	8.0 %	0.06
Q3 2009	595.80	(6.4 %)	120.53	9.7 %	90.64	2.5 %	0.08
Q4 2009	724.48	8.4 %	136.87	21.2 %	103.47	29.0 %	0.09
2009	2,555.31	1.4 %	486.38	11.8 %	373.97	12.4 %	0.31
Q1 2010	795.47	20.2 %	142.97	13.0 %	118.49	10.3 %	0.10
Q2 2010	671.97	17.3 %	98.82	(3.6 %)	75.77	4.6 %	0.06
Q3 2010	735.32	23.4 %	126.84	5.2 %	102.87	13.5 %	0.09
Q4 2010	811.80	12.1 %	132.95	(2.9 %)	103.62	0.1 %	0.09
2010	3,014.57	18.0 %	501.58	3.1 %	400.74	7.2 %	0.33
Q1 2011	945.63	18.9 %	162.68	13.8 %	136.77	15.4 %	0.11
Q2 2011	968.26	44.1 %	127.80	29.3 %	98.52	30.0 %	0.08
Q3 2011	1,208.91	64.4 %	183.99	45.1 %	152.88	48.6 %	0.13
Q4 2011	1,024.52	26.2 %	159.15	19.7 %	124.82	20.5 %	0.10
2011	4,147.31	37.6 %	633.62	26.3 %	512.99	28.0 %	0.43
Q1 2012	1,196.21	26.5 %	190.19	16.9 %	164.23	20.1 %	0.14
Q2 2012	1,065.83	10.1 %	137.29	7.4 %	106.98	8.6 %	0.09
Q3 2012	1,189.84	(1.6 %)	193.39	5.1 %	160.71	5.1 %	0.13
Q4 2012	1,182.34	15.4 %	173.24	8.9 %	137.91	10.5 %	0.11
2012	4,634.22	11.7 %	694.11	9.5 %	569.82	11.1 %	0.47
Q1 2013	1,329.98	11.2 %	210.75	10.8 %	180.84	10.1 %	0.15
Q2 2013	1,258.28	18.1 %	163.93	19.4 %	126.22	18.0 %	0.11
Q3 2013	1,334.15	12.1 %	218.87	13.2 %	186.19	15.9 %	0.16
Q4 2013	1,320.26	11.7 %	200.80	15.9 %	160.03	16.0 %	0.13
2013	5,242.67	13.1 %	794.36	14.4 %	653.26	14.6 %	0.54
Q1 2014	1,398.85	5.2 %	235.05	11.5 %	201.33	11.3 %	0.17
Q2 2014	1,289.43	2.5 %	173.66	5.9 %	135.23	7.1 %	0.11
Q3 2014	1,426.25	6.9 %	237.37	8.5 %	203.00	9.0 %	0.17
Q4 2014	1,584.20	20.0 %	240.39	19.7 %	205.81	28.6 %	0.17
2014	5,698.72	8.7 %	886.48	11.6 %	745.37	14.1 %	0.62
Q1 2015	1,909.51	36.5 %	283.51	20.6 %	247.02	22.7 %	0.21
Q2 2015	1,405.76	9.0 %	191.37	10.2 %	154.86	14.5 %	0.13
Q3 2015	1,536.06	7.7 %	253.41	6.8 %	218.50	7.6 %	0.18
Q4 2015	1,524.05	(3.8 %)	243.74	1.4 %	208.09	1.1 %	0.17
2015	6,375.38	11.9 %	972.03	9.7 %	828.47	11.1 %	0.69
Q1 2016	1,417.43	(25.8 %)	214.77	(24.2 %)	174.96	(29.2 %)	0.15
Q2 2016	1,390.74	(1.1 %)	162.76	(15.0 %)	126.48	(18.3 %)	0.11
Q3 2016	1,520.93	(1.0 %)	252.93	(0.2 %)	217.92	(0.3 %)	0.18

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2006	1,505.39	24.4 %	298.18	32.6 %	243.28	38.1 %	0.20
2007	1,741.23	15.7 %	332.00	11.3 %	276.25	13.6 %	0.23
2008	2,519.92	44.7 %	434.99	31.0 %	332.77	20.5 %	0.28
2009	2,555.31	1.4 %	486.38	11.8 %	373.97	12.4 %	0.31
2010	3,014.57	18.0 %	501.58	3.1 %	400.74	7.2 %	0.33
2011	4,147.31	37.6 %	633.62	26.3 %	512.99	28.0 %	0.43
2012	4,634.22	11.7 %	694.11	9.5 %	569.82	11.1 %	0.47
2013	5,242.67	13.1 %	794.36	14.4 %	653.26	14.6 %	0.54
2014	5,698.72	8.7 %	886.48	11.6 %	745.37	14.1 %	0.62
2015	6,375.38	11.9 %	972.03	9.7 %	828.47	11.1 %	0.69

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2007	19.67 %	16.92 %	16.03 %
Q2 2007	19.69 %	16.85 %	15.93 %
Q3 2007	19.50 %	16.86 %	16.04 %
Q4 2007	19.07 %	16.69 %	15.87 %
2007	19.07 %	16.69 %	15.87 %
Q1 2008	19.04 %	16.32 %	15.35 %
Q2 2008	18.08 %	15.30 %	14.34 %
Q3 2008	17.21 %	14.37 %	13.39 %
Q4 2008	17.26 %	14.42 %	13.21 %
2008	17.26 %	14.42 %	13.21 %
Q1 2009	17.06 %	14.32 %	13.28 %
Q2 2009	17.79 %	14.97 %	13.72 %
Q3 2009	18.50 %	15.33 %	14.03 %
Q4 2009	19.03 %	15.78 %	14.64 %
2009	19.03 %	15.78 %	14.64 %
Q1 2010	18.70 %	15.42 %	14.32 %
Q2 2010	17.91 %	14.74 %	13.93 %
Q3 2010	17.27 %	14.34 %	13.68 %
Q4 2010	16.64 %	13.78 %	13.29 %
2010	16.64 %	13.78 %	13.29 %
Q1 2011	16.47 %	13.70 %	13.24 %
Q2 2011	15.90 %	13.17 %	12.76 %
Q3 2011	15.44 %	12.82 %	12.50 %
Q4 2011	15.28 %	12.72 %	12.37 %
2011	15.28 %	12.72 %	12.37 %
Q1 2012	15.03 %	12.57 %	12.29 %
Q2 2012	14.92 %	12.52 %	12.21 %
Q3 2012	15.19 %	12.79 %	12.44 %
Q4 2012	14.98 %	12.59 %	12.30 %
2012	14.98 %	12.59 %	12.30 %
Q1 2013	14.99 %	12.66 %	12.30 %
Q2 2013	14.94 %	12.59 %	12.21 %
Q3 2013	15.02 %	12.69 %	12.36 %
Q4 2013	15.15 %	12.70 %	12.46 %
2013	15.15 %	12.70 %	12.46 %
Q1 2014	15.41 %	12.97 %	12.68 %
Q2 2014	15.51 %	13.03 %	12.78 %
Q3 2014	15.58 %	13.14 %	12.87 %
Q4 2014	15.56 %	13.18 %	13.08 %
2014	15.56 %	13.18 %	13.08 %
Q1 2015	15.06 %	12.79 %	12.74 %
Q2 2015	15.06 %	12.84 %	12.82 %
Q3 2015	15.05 %	12.90 %	12.84 %
Q4 2015	15.25 %	13.19 %	12.99 %
2015	15.25 %	13.19 %	12.99 %
Q1 2016	15.35 %	13.10 %	12.86 %
Q2 2016	14.91 %	12.59 %	12.41 %
Q3 2016	14.94 %	12.65 %	12.50 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2006	19.81 %	16.90 %	16.16 %
2007	19.07 %	16.69 %	15.87 %
2008	17.26 %	14.42 %	13.21 %
2009	19.03 %	15.78 %	14.64 %
2010	16.64 %	13.78 %	13.29 %
2011	15.28 %	12.72 %	12.37 %
2012	14.98 %	12.59 %	12.30 %
2013	15.15 %	12.70 %	12.46 %
2014	15.56 %	13.18 %	13.08 %
2015	15.25 %	13.19 %	12.99 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2007	20.76 %	19.29 %	18.69 %
Q2 2007	17.61 %	14.94 %	13.78 %
Q3 2007	21.20 %	19.42 %	18.31 %
Q4 2007	16.42 %	12.77 %	12.33 %
Q1 2008	20.20 %	17.37 %	16.25 %
Q2 2008	14.82 %	11.91 %	10.86 %
Q3 2008	17.26 %	15.05 %	13.88 %
Q4 2008	16.90 %	13.50 %	12.00 %
Q1 2009	19.11 %	16.69 %	16.23 %
Q2 2009	17.88 %	14.59 %	12.64 %
Q3 2009	20.23 %	16.59 %	15.21 %
Q4 2009	18.89 %	15.21 %	14.28 %
Q1 2010	17.97 %	15.34 %	14.90 %
Q2 2010	14.71 %	11.88 %	11.28 %
Q3 2010	17.25 %	14.64 %	13.99 %
Q4 2010	16.38 %	13.03 %	12.76 %
Q1 2011	17.20 %	14.85 %	14.46 %
Q2 2011	13.20 %	10.52 %	10.18 %
Q3 2011	15.22 %	12.92 %	12.65 %
Q4 2011	15.53 %	12.62 %	12.18 %
Q1 2012	15.90 %	13.84 %	13.73 %
Q2 2012	12.88 %	10.50 %	10.04 %
Q3 2012	16.25 %	13.94 %	13.51 %
Q4 2012	14.65 %	11.86 %	11.66 %
Q1 2013	15.85 %	13.94 %	13.60 %
Q2 2013	13.03 %	10.56 %	10.03 %
Q3 2013	16.41 %	14.18 %	13.96 %
Q4 2013	15.21 %	11.98 %	12.12 %
Q1 2014	16.80 %	14.93 %	14.39 %
Q2 2014	13.47 %	10.84 %	10.49 %
Q3 2014	16.64 %	14.55 %	14.23 %
Q4 2014	15.17 %	12.30 %	12.99 %
Q1 2015	14.85 %	13.20 %	12.94 %
Q2 2015	13.61 %	11.25 %	11.02 %
Q3 2015	16.50 %	14.64 %	14.22 %
Q4 2015	15.99 %	13.53 %	13.65 %
Q1 2016	15.15 %	12.79 %	12.34 %
Q2 2016	11.70 %	9.10 %	9.09 %
Q3 2016	16.63 %	14.89 %	14.59 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2007	1,200.00	0.21	0.21	0.44
Q2 2007	1,200.00	0.21	0.21	0.49
Q3 2007	1,200.00	0.22	0.22	0.56
Q4 2007	1,200.00	0.23	0.23	0.51
Q1 2008	1,200.00	0.24	0.24	0.49
Q2 2008	1,200.00	0.26	0.26	0.55
Q3 2008	1,200.00	0.26	0.26	0.51
Q4 2008	1,200.00	0.28	0.28	0.57
Q1 2009	1,200.00	0.29	0.29	0.55
Q2 2009	1,200.00	0.29	0.29	0.55
Q3 2009	1,200.00	0.29	0.29	0.57
Q4 2009	1,200.00	0.31	0.31	0.60
Q1 2010	1,200.00	0.32	0.32	0.62
Q2 2010	1,200.00	0.32	0.32	0.61
Q3 2010	1,200.00	0.33	0.33	0.64
Q4 2010	1,200.00	0.33	0.33	0.66
Q1 2011	1,200.00	0.35	0.35	0.71
Q2 2011	1,200.00	0.37	0.37	0.70
Q3 2011	1,200.00	0.41	0.41	0.76
Q4 2011	1,200.00	0.43	0.43	0.76
Q1 2012	1,200.00	0.45	0.45	0.81
Q2 2012	1,200.00	0.46	0.46	0.79
Q3 2012	1,200.00	0.46	0.46	0.86
Q4 2012	1,200.00	0.47	0.47	0.86
Q1 2013	1,200.00	0.49	0.49	0.91
Q2 2013	1,200.00	0.50	0.50	0.90
Q3 2013	1,200.00	0.53	0.53	0.97
Q4 2013	1,200.00	0.54	0.54	0.98
Q1 2014	1,200.00	0.56	0.56	1.04
Q2 2014	1,200.00	0.57	0.57	1.02
Q3 2014	1,200.00	0.58	0.58	1.10
Q4 2014	1,200.00	0.62	0.62	1.13
Q1 2015	1,200.00	0.66	0.66	1.20
Q2 2015	1,200.00	0.68	0.68	1.16
Q3 2015	1,200.00	0.69	0.69	1.23
Q4 2015	1,200.00	0.69	0.69	1.25
Q1 2016	1,200.00	0.63	0.63	1.23
Q2 2016	1,200.00	0.61	0.61	1.23
Q3 2016	1,200.00	0.61	0.61	1.29

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2006	1,200.00	0.20	0.20	0.53
2007	1,200.00	0.23	0.23	0.51
2008	1,200.00	0.28	0.28	0.57
2009	1,200.00	0.31	0.31	0.60
2010	1,200.00	0.33	0.33	0.66
2011	1,200.00	0.43	0.43	0.76
2012	1,200.00	0.47	0.47	0.86
2013	1,200.00	0.54	0.54	0.98
2014	1,200.00	0.62	0.62	1.13
2015	1,200.00	0.69	0.69	1.25

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2007	17.23	17.23	7.99
Q2 2007	15.77	15.77	6.92
Q3 2007	17.30	17.30	6.78
Q4 2007	17.11	17.11	7.76
Q1 2008	16.32	16.32	8.16
Q2 2008	18.29	18.29	8.49
Q3 2008	17.25	17.25	8.73
Q4 2008	15.51	15.51	7.51
Q1 2009	14.84	14.84	7.72
Q2 2009	15.10	15.10	8.01
Q3 2009	15.54	15.54	7.93
Q4 2009	14.31	14.31	7.40
Q1 2010	15.09	15.09	7.75
Q2 2010	16.07	16.07	8.51
Q3 2010	15.88	15.88	8.22
Q4 2010	15.07	15.07	7.57
Q1 2011	13.70	13.70	6.72
Q2 2011	15.96	15.96	8.34
Q3 2011	13.95	13.95	7.48
Q4 2011	16.29	16.29	9.22
Q1 2012	17.10	17.10	9.48
Q2 2012	16.51	16.51	9.54
Q3 2012	16.57	16.57	8.99
Q4 2012	16.35	16.35	9.08
Q1 2013	16.73	16.73	8.95
Q2 2013	19.12	19.12	10.74
Q3 2013	21.98	21.98	11.93
Q4 2013	21.91	21.91	12.20
Q1 2014	27.52	27.52	14.86
Q2 2014	25.93	25.93	14.50
Q3 2014	25.92	25.92	13.78
Q4 2014	22.43	22.43	12.30
Q1 2015	25.01	25.01	13.73
Q2 2015	24.53	24.53	14.28
Q3 2015	19.60	19.60	10.94
Q4 2015	17.37	17.37	9.57
Q1 2016	13.47	13.47	6.90
Q2 2016	14.55	14.55	7.19
Q3 2016	11.47	11.41	5.38

Period	P/E	Adjusted P/E	Price/book
2006	18.22	18.22	7.00
2007	17.11	17.11	7.76
2008	15.51	15.51	7.51
2009	14.31	14.31	7.40
2010	15.07	15.07	7.57
2011	16.29	16.29	9.22
2012	16.35	16.35	9.08
2013	21.91	21.91	12.20
2014	22.43	22.43	12.30
2015	17.37	17.37	9.57

Business Segments (Million)

Compared With The

Period	Retail sector	Wholesale sector	Other sectors
Q1 2007	359.78	68.71	-
Q2 2007	366.64	27.87	-
Q3 2007	388.22	89.43	-
Q4 2007	404.07	36.52	-
Q1 2008	501.96	95.69	-
Q2 2008	574.68	42.72	-
Q3 2008	553.83	82.88	-
Q4 2008	600.72	67.43	-
Q1 2009	562.00	100.00	-
Q2 2009	530.00	43.00	-
Q3 2009	501.00	95.00	-
Q4 2009	663.00	61.00	-
Q1 2010	678.00	117.00	-
Q2 2010	627.00	45.00	-
Q3 2010	623.00	113.00	-
Q4 2010	753.00	59.00	-
Q1 2011	827.00	119.00	-
Q2 2011	917.00	51.00	-
Q3 2011	1,067.00	142.00	-
Q4 2011	960.00	64.00	-
Q1 2012	1,070.00	126.00	-
Q2 2012	1,009.00	57.00	-
Q3 2012	1,034.00	156.00	-
Q4 2012	1,092.00	90.00	-
Q1 2013	1,224.00	106.00	-
Q2 2013	1,203.00	55.00	-
Q3 2013	1,173.00	161.00	-
Q4 2013	1,229.00	92.00	-
Q1 2014	1,275.00	124.00	-
Q2 2014	1,230.00	59.00	-
Q3 2014	1,252.00	175.00	-
Q4 2014	1,486.00	98.00	-
Q1 2015	1,783.00	127.00	-
Q2 2015	1,345.00	60.00	-
Q3 2015	1,367.00	169.00	-
Q4 2015	1,397.00	127.00	-
Q1 2016	1,293.00	85.00	39.00
Q2 2016	1,303.00	50.00	38.00
Q3 2016	1,326.00	150.00	45.00

Period	Retail sector	Wholesale sector	Other sectors
2006	1,318.24	187.14	-
2007	1,518.71	222.52	-
2008	2,231.20	288.72	-
2009	2,256.00	299.00	-
2010	2,681.00	334.00	-
2011	3,771.00	376.00	-
2012	4,205.00	429.00	-
2013	4,829.00	414.00	-
2014	5,243.00	456.00	-
2015	5,892.00	483.00	-

Analysts Estimates (Million)

Item	Q3 2016 (e)	Q3 2016 (a)	Change‬
Average	189.13	217.92	15.23 %

Estimates vs Actual (Million)

Item	Q3 2016 (e)	Q3 2016 (a)	Change
Sico	198.00	217.92	10.1 %
Riyad Capital	196.00	217.92	11.2 %
Alistithmar Capital	195.50	217.92	11.5 %
SNB Capital	195.00	217.92	11.8 %
AlJazira Capital	190.00	217.92	14.7 %
Al Rajhi Capital	188.00	217.92	15.9 %
Albilad Capital	180.00	217.92	21.1 %
OSOOL AND BAKHEET	170.50	217.92	27.8 %

Financial Ratios

	Current
Market Cap (M Riyal)	15,888.00
Enterprise Value (EV) (M)	16,037.93
Shares Outstanding ((M))	1,200.00
EPS ( Riyal) (TTM)	0.79
Book Value (BV) ( Riyal)	1.42
Par Value ( Riyal)	1.00
Adjusted P/E (Last12)	16.82
P/E (TTM)	16.82
Price/book	9.29
Return on Average Assets (%) (TTM)	22.8
Return on Average Equity (%) (TTM)	54.2

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Jarir net profit drops 16% in first nine months of 2016

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Jarir Marketing Co. (JARIR)

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2016 Q3

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

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Jarir net profit drops 16% in first nine months of 2016

View other reports

Share Price

Jarir Marketing Co. (JARIR)

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q3 2016

Revenue by Business Segment (Latest) 2016 Q3

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

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Business Segments (Million)