Jarir Marketing Co. is expecting profit growth of five percent this year, its slowest rate since 2009, the company said in a report.
Jarir attributed the lower growth forecast to current market conditions, as well as a likely economic slowdown in the region.
Over the last seven years, the company achieved profit growth within a range of seven percent and 28 percent. However, annual net income has usually fallen below projections.
|
Profit Growth |
|||
|
Period |
Expected growth |
Actual growth |
Standard deviation |
|
2016 |
5% |
-- |
-- |
|
2015 |
15% |
11.2% |
(3.8%) |
|
2014 |
15- 20% |
14.1% |
(5.9%) - (0.9%) |
|
2013 |
15% |
14.6% |
(0.4%) |
|
2012 |
15% |
11.0% |
(4.0%) |
|
2011 |
10% |
28.0% |
+18% |
|
2010 |
15% |
7.2% |
(7.8%) |
|
2009 |
10% |
12.4% |
+2.4% |
Jarir opened five stores in 2015, bringing the total number of stores to 40, seven of which are owned by the company. It had pushed back the opening of two branches last year to 2016, as the shops were not ready.
The Saudi-listed firm is planning to launch six new branches this year. Four stores will be opened within the kingdom, while two will be established in Kuwait.
|
Jarir’s Stores |
|||
|
Period |
Saudi Arabia |
Abroad |
Total |
|
*2016 |
38 |
8 |
46 |
|
2015 |
34 |
6 |
40 |
|
2014 |
31 |
5 |
36 |
|
2013 |
28 |
4 |
32 |
|
2012 |
28 |
4 |
32 |
|
2011 |
26 |
4 |
30 |
|
2010 |
24 |
4 |
28 |
|
2009 |
23 |
4 |
27 |
*Target
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