Financial Results : Jarir 9M 2024 profit slightly lower to SAR 698.6M; Q3 at SAR 308.2M

Jarir 9M 2024 profit slightly lower to SAR 698.6M; Q3 at SAR 308.2M

14/10/2024 Argaam Exclusive

View other reports

Jarir Marketing Co.’s (JMC) net profit saw a marginal decline to SAR 698.6 million in the first nine months of 2024, from SAR 699.9 million in the prior-year period.



Financials (M)

Item 9m 2023 9m 2024 Change‬
Revenues 7,792.42 7,966.47 2.2 %
Gross Income 947.72 971.74 2.5 %
Operating Income 713.28 708.88 (0.6 %)
Net Income 699.86 698.64 (0.2 %)
Average Shares 1,200.00 1,200.00 -
EPS (Riyals) 0.58 0.58 (0.2 %)

The nine-month profit fall was due to higher selling, marketing, general, administrative, and non-operating expenses.

 

This was despite an increase of total sales by 2.2%, mainly due to a rise in sales of the smart phones, computers, and tablets sections.

 

Gross profit increased by 2.5%, surpassing the sales growth rate due to an improvement in smartphone profit margins resulting from discounts received from vendors. In addition, other income moved higher.



Current Quarter Comparison (M)

Compared With The
Item Q3 2023 Q3 2024 Change‬
Revenues 2,639.04 2,666.67 1.0 %
Gross Income 384.41 414.62 7.9 %
Operating Income 301.19 313.54 4.1 %
Net Income 296.33 308.23 4.0 %
Average Shares 1,200.00 1,200.00 -
EPS (Riyals) 0.25 0.26 4.0 %

The third-quarter net profit rose by 4% to SAR 308.2 million, from SAR 296.3 million in Q3 2023, buoyed by an increase in total sales by 1% year-on-year (YoY) due to a rise in sales of computers, tablets, and smart phones.

 

On a quarter-on-quarter basis, Q3 2024 net earnings jumped 80.1% from SAR 171.1 million in Q2 2024.

 

Total shareholders’ equity, no minority interest, stood at SAR 1.77 billion as of Sept. 30, 2024, compared to SAR 1.79 billion a year earlier.

View More Financial Results

 

Kindly, you can view the full report by subscribing to the

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

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.