Riyadh – Mubasher: Saudi Arabia-based Jarir Marketing on Monday stated that its net profits increased 13.13% during the third quarter of 2017, compared to the year-ago period.
Net profits amounted to SAR 246.5 million in Q3-17, compared to SAR 217.9 million in Q3-16, according to a statement on the Saudi Stock Exchange (Tadawul).
Quarter-on-quarter, profits surged 66.78%.
The Saudi marketing firm attributed the rise in net profits to the growth in sales of most sections due to increase of showrooms to 49 from 44, and improvement of profit margins of some sections.
During the first nine months of 2017 net profits went up 18.54% to reach SAR 615.7 million, compared to SAR 519.4 million in the corresponding period in the year earlier.
The stock shed 0.29%, closing at SAR 149.61 on Sunday.
