Financial Results : Jarir reports 8% profit growth to SAR 251.7 mln in Q1 2020

Jarir reports 8% profit growth to SAR 251.7 mln in Q1 2020

11/06/2020 Argaam Exclusive

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Jarir Marketing Co. (JMC) reported a net profit after Zakat and tax of SAR 251.7 million for Q1 2020, a rise of 7.7% year-on-year (YoY), driven by higher sales across all segments, particularly electronics.

 

Moreover, the increased number of showrooms to 60 from 56 also contributed to the profit rise.

When compared to the previous quarter, Jarir’s net profit after Zakat declined 9.1%, hit by lower retail sales in some segments, particularly electronics as compared to the previous quarter which was positively impacted by the new launches of smart phones.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 1,886.64 2,340.22 24.0 %
Gross Income 302.14 327.46 8.4 %
Operating Income 248.14 264.51 6.6 %
Net Income 233.69 251.69 7.7 %
Average Shares 1,200.00 1,200.00 -
EPS (Riyals) 0.19 0.21 7.7 %

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