Financial Results : Jarir net profit down 1.1% to SAR 992 mln in 2021

Jarir net profit down 1.1% to SAR 992 mln in 2021

30/01/2022 Argaam Exclusive

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Jarir Marketing Co. reported a net profit after Zakat and tax of SAR 992 million for 2021, a marginal decline from SAR 1.003 billion a year earlier.

 


Financials (M)

Item 2020 2021 Change‬
Revenues 9,305.81 9,088.26 (2.3 %)
Gross Income 1,328.61 1,229.33 (7.5 %)
Operating Income 1,052.99 961.23 (8.7 %)
Net Income 1,002.99 991.86 (1.1 %)
Average Shares 1,200.00 1,200.00 -
EPS (Riyals) 0.84 0.83 (1.1 %)

The slight decrease was attributed to lower sales of certain segments, especially the computers, computer supplies, and video games being impacted by the lack of supply.

 

The company also reported an increase in other income, with a drop in general and administrative expenses.



Current Quarter Comparison (M)

Compared With The
Item Q4 2020 Q4 2021 Change‬
Revenues 2,553.83 2,318.11 (9.2 %)
Gross Income 362.96 285.64 (21.3 %)
Operating Income 304.52 212.39 (30.3 %)
Net Income 287.67 262.48 (8.8 %)
Average Shares 1,200.00 1,200.00 -
EPS (Riyals) 0.24 0.22 (8.8 %)

In Q4 2021, the company’s net profit after Zakat and tax dropped 9% year-on-year (YoY) to SAR 262.5 million.

 

On a quarterly basis, net profit decreased 3.7% from SAR 272.50 million.

 

Total shareholders equity, after minority interest, grew by 2.5% to SAR 1.769 billion in 2021, from SAR 1.725 million in 2020.

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