Jarir's net profit rises 3% in FY19

30/01/2020 Argaam Exclusive

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Jarir Marketing Co.'s net profit after zakat and tax rose 3% year-on-year (YoY) to SAR 984.7 million for fiscal year 2019, due to a 14.4% rise in sales from the retail segment, boosted by an increase in the number of showrooms from 55 to 59.

Financials (M)

Item	2018	2019	Change‬
Revenues	7,361.72	8,424.51	14.4 %
Gross Income	1,113.82	1,273.17	14.3 %
Operating Income	913.52	1,021.72	11.8 %
Net Income	959.99	984.73	2.6 %
Average Shares	1,200.00	1,200.00	-
EPS (Riyals)	0.80	0.82	2.6 %

However, the 2.6% profit increase is considered slight on higher selling and marketing expenses and increased non-operating expenses.

Q4 2019 net profit dropped 5% YoY to SAR 276.9 million.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2018	Q4 2019	Change‬
Revenues	2,136.90	2,394.06	12.0 %
Gross Income	320.07	348.00	8.7 %
Operating Income	261.97	280.44	7.0 %
Net Income	290.31	276.94	(4.6 %)
Average Shares	1,200.00	1,200.00	-
EPS (Riyals)	0.24	0.23	(4.6 %)

Item	Q3 2019	Q4 2019	Change‬
Revenues	2,251.23	2,394.06	6.3 %
Gross Income	389.14	348.00	(10.6 %)
Operating Income	314.68	280.44	(10.9 %)
Net Income	304.97	276.94	(9.2 %)
Average Shares	1,200.00	1,200.00	-
EPS (Riyals)	0.25	0.23	(9.2 %)

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The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

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